Apr 7 2015
Renewable Energy Trust Capital, Inc. (RET Capital) has acquired the 14.1-megawatt DC (MW DC) CityLights solar power plant in Chesterville, Ontario, from Canadian Solar, Inc.. With the close of this deal, RET Capital now owns three solar plants built by Canadian Solar across the province, totaling more than 40 MW DC of generating capacity.
Power from RET Capital’s CityLights plant and its sister solar plants, DiscoveryLight and FotoLight, is being sold to the Independent Electricity System Operator (IESO)—the largest power provider in Ontario—under a 20-year feed-in tariff contract.
“RET Capital is excited to add this high-quality plant and its long-term energy delivery contracts to our growing portfolio of solar assets in the United States and Canada,” said John A. Bohn, Chief Executive Officer and Chairman of RET Capital.
Canadian Solar provided turnkey engineering, procurement, and construction services, and will continue to operate and maintain the plant.
“Canadian Solar has had a long friendship with RET Capital in the renewable energy industry, and the sale of this third plant underscores our successful collaboration with them,” said Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar. “We believe in our corporate mission and look forward to contributing to the solar landscape in North America.”
“We look forward to continuing to work with Canadian Solar, both with these plants and as we expand our North American solar network,” Bohn said.
RET Capital, based in San Francisco, currently owns utility-scale solar energy plants in Ontario, California, and Georgia.