Canadian Solar to sell four solar power plants to DIF Infrastructure

18 November 2013 (Last Updated November 18th, 2013 18:30)

Canadian Solar Solutions, a subsidiary of Canadian Solar, has signed an agreement with a fund managed by DIF Infrastructure to sell its four utility-scale solar power plants totalling 40MWac located in Kawartha Lakes, Ontario.

Canadian Solar Solutions, a subsidiary of Canadian Solar, has signed an agreement with a fund managed by DIF Infrastructure to sell its four utility-scale solar power plants totalling 40MWac located in Kawartha Lakes, Ontario.

The four plants, 'BeamLight' in Georgina, 'GoldLight' in Pefferlaw, 'Illumination' in Scugog and 'Glenarm', will create more than 400 construction jobs and generate enough electricity to power around 7,000 homes.

The plants are expected to start construction in 2013 and 2014 and begin commercial operation in 2014. Once operational, the plants will sell their output to the Ontario Power Authority under the Feed-in-Tariff programme.

SkyPower, a Canadian Solar company, proposes to develop a 10MWac solar facility, known as BeamLight, located in the Town of Georgina, Region of York.

"Once operational, the plants will sell their output to the Ontario Power Authority under the Feed-in-Tariff programme."

Canadian Solar, acting on behalf of GoldLight, plans to develop a 10MWac solar facility, located near Pefferlaw, in the Town of Georgina and the Region of York.

Canadian Solar, acting on behalf of Illumination, intends to develop a 10MWac solar facility near Port Perry, in the Township of Scugog and the Region of Durham.

The 10MW Glenarm solar project is located in the community of Glenarm, which is part of the Township of Eldon and the City of Kawartha Lake.

Canadian Solar will deliver around 190,000 CS6X high-performance modules, provide turnkey engineering, procurement and construction services for the plants, and will provide operations and maintenance services after completion.

Subject to closing conditions including the financial closure, the agreement has been reached at a valuation comparable to other recent project sales completed by Canadian Solar on a per MW basis in the Ontario market.

Canadian Solar chairman and CEO Shawn Qu said DIF, which has attained success in numerous projects across the globe, has a forward looking vision for solar.

"These four solar-power plants will further advance our shared goal of significantly contributing to the growth of solar powered energy and job creation in the Ontario market," said Qu.


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