Canadian Solar Solutions has sold two solar power plants in Ontario to Renewable Energy Trust Ontario Holdings (RET).
The two plants – DiscoveryLight plant in Beaverton and the FotoLight plant in Prince Edward County township – are in commercial operation with an installed capacity of 10MW.
The clean energy generated by both the plants, which feature Canadian Solar’s CS6X-305P modules, will be sold to Hydro One under a 20-year Ontario Power Authority feed-in-tariff contract.
Canadian Solar chairman and chief executive officer Shawn Qu said: “We are pleased with the sale of these two plants to RET Capital, and we look forward to closing the third plant in early 2015.
“This transaction underscores the successful execution of our business plan in Ontario, as well as our proven track record as a leading project developer on a global scale.”
Canadian Solar provided engineering, procurement and construction services, and will also deliver operations and maintenance services.
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By GlobalDataThe sale forms a part of an agreement where Canadian Solar will sell RET three projects, with the third expected to close in 2015.
The third 10MW AC CityLights power plant is expected to start commercial operation in the first quarter of 2015.
Canadian Solar has installed more than 8GW of modules in over 70 countries in the past decade.
