Canadian Solar completes sale of Aguascalientes solar project in Mexico to BlackRock

Solar panels  manufacturer  and project developer based in Ontario, Canadian Solar Inc., announced it has completed the sale of its 68 MWp Aguascalientes solar project in Mexico to BlackRock Infrastructure Fund II.

Canadian Solar developed, arranged construction and long-term project financing, built and energized the project in January 2019. Powered by 200,000 Canadian Solar high-efficiency poly modules CS6U-P, the solar power plant is expected to generate 145 GWh of electricity annually, enough to power 20,690 households and offset 72,700 tons of carbon dioxide emission each year.

The electricity generated will be sold under a 15-year power purchase agreement for energy and capacity, and 20-year for Clean Energy Certificates with Mexico’s state-owned utility. Canadian Solar will provide operations and maintenance services to the plant, starting in the third year of operations.

Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar commented:

“The Aguascalientes project demonstrated Canadian Solar’s capabilities to take a utility-scale solar project through the full cycle of development, PPA award, financing, construction and sale, and it further strengthened our leading position in the solar energy market in Mexico. We have a remaining pipeline of more than 600 MWp of solar projects in the country at various stages of development, including 368 MWp with awarded power purchase agreements. We are very glad to have partnered again with a leading global investor such as BlackRock, following the sale of three Canadian Solar projects in Ontario to BlackRock in 2014.”

Juan Alberto Leautaud, Head of BlackRock’s Mexico Infrastructure Investment Group said:

“This acquisition reflects BlackRock’s commitment to investing in Mexican infrastructure, on behalf of our clients, as well as the firm’s focus on renewable energy projects globally, having supported over 250 wind and solar projects.”

 

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Source: Press Release by Canadian Solar.