Canadian Solar Solutions, a business unit of Canadian Solar, has entered into an agreement with a fund managed by BlackRock to sell its Oro-Medonte power plant, situated in the Township of Oro-Medonte in Ontario, Canada.
The 10MW solar power facility, which is scheduled to start construction in the first quarter of 2014, is expected to begin commercial operation in the third quarter of 2014.
The Oro utility-scale solar power plant, which is designed to generate power for around 1,339 homes, will provide emissions free energy to Ontarians over their 20-year operational period covered under the Ontario Power Authority contracts.
The solar power plant will use around 38,763 Canadian Solar CS6X modules.
Canadian Solar said that the latest deal follows BlackRock's previously announced acquisition of the Demorestville, Taylor Kidd and Westbrook solar power plants in Ontario.
Canadian Solar chairman and CEO Shawn Qu said the company is pleased to partner with BlackRock to build four solar power plants and contribute to the growth of clean solar energy in the Ontario market.
"We continue to execute well on our Ontario project backlog as we strengthen our position in the global solar energy solutions space with an industry leading network of partners across all segments of the value chain,' Qu said.
BlackRock Infrastructure Investment Group managing director and head Jim Barry said, "We're very pleased to announce the purchase of this fourth solar project in the province of Ontario and we look forward to a successful cooperation with Canadian Solar to bring these projects to fruition."