Oct 6 2014
Canadian Solar Inc. (the "Company", or "Canadian Solar"), one of the world's largest solar power companies, today announced that its wholly owned subsidiary, Canadian Solar Solutions Inc., has closed the sale of three solar power plants, William Rutley, Liskeard 3 and Liskeard 4, totaling 30 MW AC and valued at over C$180 million ($161.2 million) to TransCanada Corporation (TSX, NYSE: TRP) ("TransCanada").
The William Rutley project closed on September 29, 2014 followed by Liskeard 3 & 4 on September 30, 2014
"We are delighted to complete the sale of these three utility-scale solar power plants to TransCanada, one of North America's most successful energy infrastructure companies," said Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar Inc. "This transaction brings the number of project sales in Ontario in the third quarter of 2014 to five, and is another testament to our utility-scale project development capabilities and expertise, as we continue to expand our total solutions business model globally."
The William Rutley solar power plant totals 10 megawatt AC and is located in the town of Ingleside. The Liskeard 3 & Liskeard 4 totaling 20 megawatts are located in the town of Temiskaming Shores.
About Canadian Solar Inc.
Founded in 2001 in Ontario, Canada, Canadian Solar is one of the world's largest and foremost solar power companies. As a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions, Canadian Solar has an industry leading and geographically diversified pipeline of utility-scale solar power projects as well as a track record of successful solar deployment boasting over 7 GW of premium quality modules installed in over 70 countries during the past decade. Canadian Solar is committed to providing high-quality solar products and solar energy solutions to customers around the world. For more information about our company, products and projects please visit www.canadiansolar.com.
About TransCanada
With more than 60 years' experience, TransCanada is a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas and liquids pipelines, power generation and gas storage facilities. TransCanada operates a network of natural gas pipelines that extends more than 68,500 kilometres (42,500 miles), tapping into virtually all major gas supply basins in North America. TransCanada is one of the continent's largest providers of gas storage and related services with more than 400 billion cubic feet of storage capacity. A growing independent power producer, TransCanada owns or has interests in over 11,800 megawatts of power generation in Canada and the United States. TransCanada is developing one of North America's largest liquids delivery systems. TransCanada's common shares trade on the Toronto and New York stock exchanges under the symbol TRP. Visit TransCanada.com and our blog to learn more, or connect with us on social media and 3BL Media.