Photovoltaic (PV) modules manufacturer Canadian Solar has sold the remaining 30% stake in Big Fish SPV and Iron SPV solar projects to Falck Renewables.

Located in Sicily, Italy, the two solar projects have a total expected capacity of more than 290MWp.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Last year, Canadian Solar and Falck Renewables partnered to jointly develop the projects by selling 70% ownership of them to Falck Renewables.

With this acquisition, Falck Renewables now owns 100% of the two solar facilities.

Canadian Solar chairman and CEO Dr Shawn Qu said: “We are pleased to have partnered with Falck Renewables in this initiative, which allowed us to broaden our portfolio in Italy and has brought development progress to our projects.

“Going forward, our strategy in Italy will focus on growing and diversifying our pipeline, currently in excess of 1.3GWp across various regions in the country, with around 140MWp expected to reach notice-to-proceed (NTP) in 2021.”

The company also plans to focus on securing long term energy sale agreements and increase the value generated from its projects.

The two projects have currently secured grid connection and preliminary land rights, as well as applied for permits and authorisations.

Dr Qu added: “Italy is one of the countries in Europe where solar energy has reached grid parity at the wholesale level, and therefore we expect the growth of energy sale agreements to accelerate in the following years.

“This is supportive of the ambitious goals set by the government to substantially increase its solar PV installed capacity over the next decade. As the energy market shows modest but positive signs of improvement from the Covid impact, we see new attractive opportunities in the private PPA market.

Financial details of the deal have not been disclosed by the companies.

In March, Canadian Solar secured financing for a 151MWp portfolio of solar PV projects in Italy.