Canadian Solar Inc. says its subsidiary, Canadian Solar Solutions Inc., has entered into an agreement with a fund managed by BlackRock for the latter to acquire two utility-scale solar power plants totaling 20 MW. The facilities are located in Demorestville and Odessa, Ontario.
Canadian Solar is providing engineering, procurement and construction services to complete the projects and will provide operations and maintenance services after completion. The two facilities are expected to include approximately 95,890 Canadian Solar CS6X modules. Their electricity output is to be provided to the Ontario Power Authority under 20-year contracts.
‘We are pleased to have invested in the Canadian solar energy sector and in particular, the projects in Demorestville and Odessa,’ says BlackRock Managing Director Jim Barry. ‘We look forward to developing our relationship with such a high quality asset developer as Canadian Solar.’