The two utility-scale solar power plants purchased by BlackRock are located in Demorestville and Odessa, Ontario, Canada. Construction started in the first quarter and third quarter of 2013, with commercial operation expected in the fourth quarter of 2013 and the second quarter of 2014, respectively. Canadian Solar is providing turnkey engineering, procurement and construction services to complete the projects and will provide operations and maintenance services after completion.
"We are pleased to have invested in the Canadian solar energy sector and in particular the projects inDemorestville and Odessa,” said Jim Barry, managing director at BlackRock. "We look forward to developing our relationship with such a high quality asset developer as Canadian Solar."
The two utility-scale solar power plants are expected to include approximately 95,890 Canadian Solar CS6X modules. They will power approximately 3,340 homes, and will provide emissions free energy to Ontarians over their 20-year operational period covered under the Ontario Power Authority contracts.