Canadian Solar Inc. says that its wholly owned subsidiary, Canadian Solar Solutions Inc., has closed the sale of the Liskeard 1 solar power facility to TransCanada Corp.
The newly built Liskeard 1 project, located in New Liskeard, Ontario, has a generating capacity of 10 MW and uses Canadian Solar's MaxPower CS6X-P modules. The project is valued at approximately C$60 million, or $52 million.
This acquisition is part of a larger purchase agreement with Canadian Solar signed in 2011, bringing TransCanada's investment in its Ontario solar program to over $450 million, now with eight solar facilities. The new solar plant has started generating electricity under a 20-year power purchase agreement with the Ontario Power Authority.