Canadian Solar subsidiary Canadian Solar Solutions Inc. has sold a 10 MW solar plant valued at more than C$55 million ($52 million) to TransCanada Corporation.
The facility is the first of nine solar plants with a total capacity of 86 MW that Canadian Solar Solutions has agreed to build and sell to TransCanada for approximately C$470 million ($445 million).
"This transaction represents an important milestone for Canadian Solar, as it puts us on track to target 50% of our revenue in 2013 from our total solutions business, and to return the company to profitability for the full fiscal year," said Canadian Solar CEO Shawn Qu.
The company closed the deal for the Brockville 1 plant, located in the city of Brockville in Eastern Ontario, on June 28.
Popular content
Canadian Solar Solutions will provide turnkey engineering, procurement and construction services to all of the projects. All solar PV modules used in the project are manufactured at Canadian Solar's manufacturing facility in Guelph, Ontario.
"We are delighted to close the sale of our first project with TransCanada, one of North America's most successful energy infrastructure companies, which has chosen to partner with Canadian Solar to expand their emissionless energy portfolio and expand into the solar power generation space," Qu added.
Last month Canadian Solar Solutions sold four utility-scale solar power plants totaling 38.5 MW to independent renewable power producer BluEarth. Construction of those plants will begin this year and commercial operations are scheduled to commence in 2014.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
Share
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.