Canadian Solar sells Ontario solar plant to RET Capital
Canadian Solar Inc. has completed the sale of the third 10 MW AC solar power plant, "CityLights," to Renewable Energy Trust Ontario Holdings (RET Capital).
The transaction has been closed at a valuation comparable to other recent project sales completed by Canadian Solar on a per megawatt basis. This plant uses Canadian Solar's CSX-P-300|305P panels.
The CityLights solar power plant is located in the town of Chesterville, Ontario. The electricity generated by this power plant, currently in operation, will be sold to Hydro One under a 20-year Independent Energy Systems Operator feed-in-tariff contract. Canadian Solar provided turnkey engineering, procurement, and construction services, and will further provide operations and maintenance services.
John A. Bohn, Chief Executive Officer and Chairman of RET Capital, stated:
"RET Capital is very pleased to close this deal with our friends at Canadian Solar. By purchasing CityLights, we now have a portfolio of more than 40 MW DC of solar assets in Ontario. We look forward to continuing our close working relationship with Canadian Solar in the future as we expand our North American solar network."
Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, commented,
"We are pleased to close our third solar power plant sale to RET Capital. Not only does this sale highlight the successful collaboration between Canadian Solar and RET, it also underscores our success in creating sustainable jobs and furthering the use of renewable energy from the sun inOntario."
We have recently reported about several solar asset transactions globally:
- Abdul Latif Jameel acquires Fotowatio Renewable Ventures (FRV) - Spain
- Canadian Solar sells 10 MW Goldlight PV solar project in Ontario - Canada
- TRIG acquires Four Burrows solar park in Cornwall - UK
- DIF Infrastructure III acquires 49% equity shareholding in Lone Valley solar PV power plant - USA
- sPower acquires three separate solar portfolios from FLS Energy - USA
- Primrose Solar acquires 9.5MW solar plant at Wilton Farm from Gamma Solutions - UK
- BayWa r.e. sells British three solar farms to Munich Re - UK
- HelioSage Energy sells its majority assets to Coronal Group - USA
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