Canadian Solar has sold a grid -connected solar power plant to Stonepeak Infrastructure Partners for a total consideration of C$48m ($48.4m).
The Canadian Solar 1(CS1) plant consists of approximately 50,000 CS6M solar modules and produces enough electricity to power over 1,200 homes in Ontario, near the town of Napanee.
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Canadian Solar is the developer, engineering, procurement and construction financier of the solar power plant.
AMP Solar Group is the project co-developer, which financed the acquisition of the asset with Stonepeak Infrastructure Partners and The Manufacturers Life Insurance Company.
Stonepeak awarded Canadian Solar with a 20-year contract to provide operations and maintenance services for the plant.
Canadian Solar CEO and Chairman Shawn Qu said the company has completed the first sale of its solar power project in Ontario.
"It is a testament to the quality of Canadian Solar’s modules and the proven expertise of our projects team that a strategic company like Stonepeak has chosen the CS1 solar farm as their first investment in the Ontario market," Qu said.
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By GlobalDataStonepeak Infrastructure Partners founding partner Trent Vichie said, "Canadian Solar Solutions’ projects team has done an excellent job completing this clean energy project and delivering a turnkey package for purchase by Stonepeak."
Canadian Solar is a provider of ingot, wafer, solar cell, solar module and other solar applications, and it designs, manufactures and delivers solar products and solar system solutions for on-grid and off-grid use.
