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BluEarth Renewables to purchase four utility-scale solar power plants from Canadian solar

Canadian Solar has announced that its subsidiary, Canadian Solar Solutions will sell four utility-scale solar power plants to a subsidiary of BluEarth Renewables totaling 38.5MW and valued at over $217.2 mn.

The four utility-scale solar power plants being purchased by BluEarth are located in Kawartha Lakes, Belleville, Beaverton and Napanee, Ontario, Canada. Construction on all four utility scale projects is expected to commence in 2013, with commercial operation expected in 2014. Canadian Solar will provide turnkey engineering, procurement and construction (EPC) services for all four sites.

"These projects are a great fit with our existing renewable energy plants and projects, moving us closer to our goal of $1bn of high-quality, long-term contracted renewable energy plants,” said Kent Brown, President & CEO of BluEarth. 

These four utility-scale solar power plants are designed to generate sufficient power for approximately 6,878 homes, and will provide emissions free energy to Ontarians over their 20-year operational period covered under the Ontario Power Authority contracts.

In addition, the utility-scale solar power plants will include approximately 186,000 Canadian Solar CS6X modules. The utility-scale solar power plants are expected to create more than 400 new jobs during the development and construction phases of all four solar projects.

"Development of these utility-scale solar power plants will contribute to job creation in the Ontario market during the construction phase, while also extending our position as a leading provider of solar energy solutions in Canada," said Dr. Shawn Qu, chairman and chief executive officer of Canadian Solar.

The four utility-scale solar plants being sold to BluEarth are part of Canadian Solar's pipeline in Ontario, Canada, of 29 projects equivalent to approximately 400 MW. The company said it estimates that the resale value of its entire Ontario project pipeline, once built into grid-connected solar power plants and sold to investors, will exceed $1.45bn.

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Energy efficiency  •  Solar electricity  •  Solar heating and cooling

 

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