in News Departments > New & Noteworthy
print the content item

comments: 0

Canadian Solar Inc. and SunEdison Power Canada Inc., a subsidiary of MEMC Electronic Materials Inc., have completed a purchase and sale transaction wherein Canadian Solar's direct subsidiary, Canadian Solar Solutions Inc., has acquired a majority interest in two utility-scale solar power projects in Ontario with a total capacity of approximately 24 MW.

Subject to certain contractual conditions, Canadian Solar has the ability to complete a purchase of two additional utility-scale solar power projects in Ontario with a total capacity of approximately 22.5 MW, and an option to purchase a fifth solar project at a later date from SunEdison. Each of the five solar power projects was awarded a 20-year power purchase contract by the Ontario Power Authority under Ontario's feed-in-tariff program.

The two projects purchased have each received Renewal Energy Approvals and are expected to commence construction in early 2013 and be fully operational by late 2013. The remaining solar energy projects are in the advanced permitting stage and are expected to commence construction in early to mid-2013 and be fully operational by late 2013 and early 2014.

The aggregate transaction price is approximately C$37 million ($38 million), payable in accordance with certain milestones.



Solaredge_id1360

Surrette Battery_id
Latest Top Stories

Judge Strikes Down Minnesota Clean Energy Law As Unconstitutional

Minnesota's Next Generation Energy Act, which sought to reduce greenhouse gas emissions and promote renewable energy development, violates the Commerce Clause, a federal judge has ruled. Supporters vow to fight on.


U.S. To Dodge Solar Shortage This Year Despite Looming PV Tariffs

Existing PV manufacturing capacity should carry the U.S. solar sector through the year, even if anti-dumping duties are imposed on China and Taiwan this fall.


Advocate: Agency Does A 'Disservice' With U.S. Renewable Energy Projections

In a new report, the Sun Day Campaign says the U.S. can expect renewable energy to provide 16% of U.S. generating capacity by 2016, not 2040, as projected by the U.S. Energy Information Administration.


In A Diverse Solar Marketplace, Some Say Specialization Is The Way To Go

Commercial and residential installers are beginning to find some truth behind an old adage: jack-of-all-trades, master of none.


Solar And Gas Provided Nearly 75% Of All New U.S Capacity In 2013

A number of factors made 2013 a banner year for solar in the U.S. A shift away from coal, oil and nuclear has cleared the way for more PV and natural gas capacity.

S&C Electric_id1352
Solar Promo_id1332
Hilco_id1361
WIP_id1320