Canadian Solar sells newly-completed solar project in Ontario to DIF

Canadian Solar (NASDAQ: CSIQ) on Dec. 15 announced the sale of the 10 MW ac (14 MW dc) Illumination LP solar power plant to an affiliate of DIF Infrastructure III.

The solar power plant, valued at C$65.9 million (US$48.4 million), consists of approximately 47,448 Canadian Solar MaxPower CS6X-300/310P PV modules and is located in Scugog, Ontario. It reached commercial operation on Nov. 13 of this year, and will sell electricity pursuant to a 20-year Independent Electricity System Operator feed-in-tariff contract.

The amount of clean solar energy that the Illumination plant will generate is estimated at 17,892 MWh per year, and 344,697 MWh over 20 years.

Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, said: “We are pleased to announce the sale of Illumination LP to DIF. This marks the third transaction closed between Canadian Solar and DIF, and we thank them for their continued partnership.”

Founded in 2001 in Canada, Canadian Solar is a leading manufacturer of solar photovoltaic modules and a provider of solar energy solutions. 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.

About Barry Cassell 20414 Articles
Barry Cassell is Chief Analyst for GenerationHub covering coal and emission controls issues, projects and policy. He has covered the coal and power generation industry for more than 24 years, beginning in November 2011 at GenerationHub and prior to that as editor of SNL Energy’s Coal Report. He was formerly with Coal Outlook for 15 years as the publication’s editor and contributing writer, and prior to that he was editor of Coal & Synfuels Technology and associate editor of The Energy Report. He has a bachelor’s degree from Central Michigan University.