Canadian Solar Sells Two Solar Power Plants in Ontario to Concord Green Energy
Canadian Solar Solutions Inc., one of the world’s largest solar power companies, announced this week that its wholly owned subsidiary, Canadian Solar Solutions Inc., completed the sale of its EarthLight and Aria solar plants to One West Holdings Ltd., an affiliate of Concord Green Energy Inc.
The 9 MW AC Aria solar power plant, valued at over USD $47.2 Million, is located in the Township of Elmvale, Ontario and consists of 48,528 Canadian Solar MaxPower PV modules.
The environmental benefits that will be generated from this solar system are significant. The amount of clean solar energy that the Aria plant will generate is estimated at 15,956 MWh per year, and 277,754 MWh over 20 years. The amount of carbon dioxide that will be displaced during the system’s 20 year lifetime is approximately 191,526 metric tons, equivalent to taking approximately 40,321 cars off the road for one year.
The 10 MW AC EarthLight solar plant, valued at over USD$49.7 Million, is located in Georgina, Ontario and consists of approximately 45,648 Canadian Solar MaxPower PV modules. BowMont Capital and Advisory acted as financial advisor to Concord on this transaction.
This solar power plant will generate significant environmental benefits. The amount of clean solar energy that the Earthlight plant will generate is estimated at 17,892 MWh per year and 344,697 MWh over 20 years. The amount of carbon dioxide that will be displaced during the system’s 20 year lifetime is approximately 237,686 metric tons, equivalent to taking approximately 50,000 cars off the road for one year.
Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, commented:
“We are pleased to deliver a fifth solar power plant to Concord Green Energy, and we thank them for their mutual partnership and shared belief in making a difference to the environment in Canada. Not only will Earthlight create additional green jobs, it will also provide sustainable clean solar energy to all people of Ontario.”
Source: Press Release from Canadian Solar. Image Credit: Sean Marshall via Flickr (CC BY-NC 2.0).
