Canadian Solar Solutions Inc., a subsidiary of Canadian Solar Inc., has closed the sale of the 10 MW Brockville 1 solar power plant to TransCanada Corp. The $52.2 million deal was completed June 28.
‘This transaction represents an important milestone for Canadian Solar, as it puts us on track to target 50 percent of our revenue in 2013 from our total solutions business and to return the company to profitability for the full fiscal year,’ says Canadian Solar Chairman and CEO Shawn Qu.
Canadian Solar says the Brockville 1 solar power plant, located in eastern Ontario, is the first of nine such plants totaling 86 MW that the company's subsidiary has agreed to build and sell to TransCanada. Canadian Solar Solutions Inc. will provide engineering, procurement and construction services to all the projects.
Canadian Solar says all solar PV modules used in the projects are being manufactured at its facility in Guelph, Ontario.