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Canadian Solar Announces the Sale of Two Utility Scale Solar Power Plants

Published on 4 Oct 2013
CSI Solar Co., Ltd. 
Canadian Solar Inc. (NASDAQ: CSIQ) (the "Company", or "Canadian Solar"), one of the world's largest solar power companies, today announced that its subsidiary, Canadian Solar Solutions Inc., entered into an agreement with a fund managed by BlackRock ("BlackRock"), whereby BlackRock acquired from Canadian Solar two utility-scale solar power plants totaling 20MW (AC) on September 30th, 2013 at a valuation comparable to other recent project sales completed by Canadian Solar on a per megawatt basis in the Ontario market.

Under the agreement, 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 ("EPC") services to complete the projects and will provide operations and maintenance ("O&M") services after completion.Canadian Solar Inc. (NASDAQ: CSIQ) (the "Company", or "Canadian Solar"), one of the world's largest solar power companies, today announced that its subsidiary, Canadian Solar Solutions Inc., entered into an agreement with a fund managed by BlackRock ("BlackRock"), whereby BlackRock acquired from Canadian Solar two utility-scale solar power plants totaling 20MW (AC) on September 30th, 2013 at a valuation comparable to other recent project sales completed by Canadian Solar on a per megawatt basis in the Ontario markeCanadian Solar Inc. (NASDAQ: CSIQ) (the "Company", or "Canadian Solar"), one of the world's largest solar power companies, today announced that its subsidiary, Canadian Solar Solutions Inc., entered into an agreement with a fund managed by BlackRock ("BlackRock"), whereby BlackRock acquired from Canadian Solar two utility-scale solar power plants totaling 20MW (AC) on September 30th, 2013 at a valuation comparable to other recent project sales completed by Canadian Solar on a per megawatt basis in the Ontario markeCanadian Solar Inc. (NASDAQ: CSIQ) (the "Company", or "Canadian Solar"), one of the world's largest solar power companies, today announced that its subsidiary, Canadian Solar Solutions Inc., entered into an agreement with a fund managed by BlackRock ("BlackRock"), whereby BlackRock acquired from Canadian Solar two utility-scale solar power plants totaling 20MW (AC) on September 30th, 2013 at a valuation comparable to other recent project sales completed by Canadian Solar on a per megawatt basis in the Ontario market.Canadian Solar Inc. (NASDAQ: CSIQ) (the "Company", or "Canadian Solar"), one of the world's largest solar power companies, today announced that its subsidiary, Canadian Solar Solutions Inc., entered into an agreement with a fund managed by BlackRock ("BlackRock"), whereby BlackRock acquired from Canadian Solar two utility-scale solar power plants totaling 20MW (AC) on September 30th, 2013 at a valuation comparable to other recent project sales completed by Canadian Solar on a per megawatt basis in the Ontario market.

Canadian Solar Inc. (NASDAQ: CSIQ) (the "Company", or "Canadian Solar"), one of the world's largest solar power companies, today announced that its subsidiary, Canadian Solar Solutions Inc., entered into an agreement with a fund managed by BlackRock ("BlackRock"), whereby BlackRock acquired from Canadian Solar two utility-scale solar power plants totaling 20MW (AC) on September 30th, 2013 at a valuation comparable to other recent project sales completed by Canadian Solar on a per megawatt basis in the Ontario market.

Under the agreement, 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 ("EPC") services to complete the projects and will provide operations and maintenance ("O&M") services after completion.
Canadian Solar Inc. (NASDAQ: CSIQ) (the "Company", or "Canadian Solar"), one of the world's largest solar power companies, today announced that its subsidiary, Canadian Solar Solutions Inc., entered into an agreement with a fund managed by BlackRock ("BlackRock"), whereby BlackRock acquired from Canadian Solar two utility-scale solar power plants totaling 20MW (AC) on September 30th, 2013 at a valuation comparable to other recent project sales completed by Canadian Solar on a per megawatt basis in the Ontario market.

Under the agreement, 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 ("EPC") services to complete the projects and will provide operations and maintenance ("O&M") services after completion.

Canadian Solar Inc. (NASDAQ: CSIQ) (the "Company", or "Canadian Solar"), one of the world's largest solar power companies, today announced that its subsidiary, Canadian Solar Solutions Inc., entered into an agreement with a fund managed by BlackRock ("BlackRock"), whereby BlackRock acquired from Canadian Solar two utility-scale solar power plants totaling 20MW (AC) on September 30th, 2013 at a valuation comparable to other recent project sales completed by Canadian Solar on a per megawatt basis in the Ontario market.

Under the agreement, 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 ("EPC") services to complete the projects and will provide operations and maintenance ("O&M") services after completion.
ENF Profiles For Companies Mentioned in This Article

CSI Solar Co., Ltd. (Solar Materials): https://www.enfsolar.com/csi-canadian-solar
CSI Solar Co., Ltd. (Solar Panels): https://www.enfsolar.com/csi-canadian-solar
CSI Solar Co., Ltd. (Solar Components): https://www.enfsolar.com/csi-canadian-solar
CSI Solar Co., Ltd. (Solar System Installers): https://www.enfsolar.com/csi-canadian-solar
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