Canadian Solar Inc. has acquired six solar power projects totaling 46 MW in the U.K.
Four of the projects, totaling 40.5 MW DC, are currently under construction and will be connected to the grid in March. Two additional projects, totaling 5.5 MW DC, are expected to start construction before the end of February and will be connected to the grid in the second quarter, according to Canadian Solar.
‘The U.K. is an important and rapidly growing solar market, and these transactions provide us with an attractive opportunity to leverage our expertise and balance sheet to redeploy capital to support our growth and create value for our shareholders,’ says Shawn Qu, chairman and CEO of Canadian Solar.
Together, these six projects will produce approximately 50,183 kWh of electricity per year, which will displace approximately 38,140 metric tons of carbon dioxide per year – the equivalent of removing over 7,276 cars from U.K. roads.