Jan. 2, 2014 - Canadian Solar Inc. today announced that its wholly owned subsidiary, Canadian Solar Solutions Inc., has completed the sale of Mississippi Mills, a 10 megawatt AC solar power plant valued at over C$61.0 million to TransCanada Corporation on December 31, 2013.
"This is the fourth of nine solar power plants totaling 86MW AC that we agreed to build and sell to TransCanada for approximately C$500 million," said Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar. "Our ability to successfully execute on this multi-facility project reflects the strength of Canadian Solar's team and our partners. This should give investors added confidence in our ability to execute on our broader late-stage project backlog, which now stands at over 1.0GW."
The Mississippi Mills 10 megawatt AC solar power plant is located in the town of Mississippi Mills in Eastern Ontario. Canadian Solar Solutions Inc. will provide turnkey engineering, procurement and construction services to each of the nine projects. This latest sale follows the previously announced closing of the sale of Brockville 1 on June 28, 2013, in addition to Brockville 2 and Burritts Rapids on September 30, 2013.