Canadian Solar (NASDAQ: CSIQ) on Dec. 23 announced that its wholly owned subsidiary, Canadian Solar Solutions Inc., completed the sale of its 10 MW (ac) EarthLight LP facility to One West Holdings Ltd., an affiliate of Concord Green Energy Inc.
The solar farm, valued at over C$69.4 million (US$49.7 million), is located in Georgina, Ontario, and consists of approximately 45,648 Canadian Solar MaxPower CS6X-300/310P PV modules. BowMont Capital and Advisory acted as financial advisor to Concord on this transaction.
The amount of clean solar energy that the Earthlight plant will generate is estimated at 17,892 MWh per year and 344,697 MWh over 20 years.
Cliff McCracken, Senior Vice-President at Concord, remarked: “This is the fifth plant we have purchased from Canadian Solar in the past year and a half for a total installed capacity of 49 MW. We look forward to this to further complement our portfolio of green energy producing projects across Canada.”
Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, said: “We are pleased to deliver a fifth solar power plant to Concord Green Energy, and we thank them for their mutual partnership and shared belief in making a difference to the environment in Canada.”
Founded in 2001 in Canada, Canadian Solar has a geographically diversified pipeline of utility-scale power projects. In the past 14 years, Canadian Solar has successfully deployed over 12 GW of premium quality modules in over 70 countries around the world.
Concord Pacific created Concord Green Energy to explore and support a variety of zero carbon energy producing projects of scale. Planning for infrastructure needs and requirements of Canadians has always been a cornerstone to Canada’s first urban master-planned community builder, Concord Pacific. Concord Green Energy has projects at various stages of planning, development, and operation across Canada.