TransCanada Corp. (TSX:TRP) (NYSE:TRP) said Dec. 29 that it has acquired the eighth Ontario solar facility from Canadian Solar Solutions Inc.
The newly-built, 10-MW Liskeard 1 facility is located in northeastern Ontario in the New Liskeard region. The acquisition of Liskeard 1 is part of a larger purchase agreement with Canadian Solar signed in 2011. The facility has started generating electricity under a 20-year power purchase agreement with the Ontario Power Authority.
“We are pleased to have completed the purchase of this additional solar facility in Ontario,” said Russ Girling, president and chief executive officer of TransCanada. “This acquisition continues to show our commitment to maintaining a diverse portfolio of generating capacity in Ontario which includes 958 MW of gas fired generation and our combined interest of about 40 per cent in the 6,200 MW Bruce nuclear facility.”
To date, the company has invested over C$5bn in emission-less energy sources including the largest wind farm in New England and 13 hydro power facilities in New Hampshire, Massachusetts and Vermont, as well as solar projects and Canada’s largest wind farm development in Quebec. TransCanada is a partner in Bruce Power, Canada’s first private nuclear generator that currently produces 6,200 MW of emission-free electricity in Ontario. TransCanada also specializes in building highly efficient natural gas-fired power plants that are helping North America’s transition to a less carbon-intensive electricity supply mix. TransCanada owns or has interests in over 11,900 MW of power generation in Canada and the United States.