New Projects, Solar

Canadian Solar to sell five solar power projects for $277mn

Canadian Solar to sell five utility-scale solar power projects Concord Green Energy Concord Pacific Ontario Canada

Canadian Solar Inc. (NASDAQ: CSIQ) will sell five utility-scale solar power plants totaling 49 MW of capacity valued at over C$290 million ($277 million) to Concord Green Energy, an affiliate of Concord Pacific.

Under the agreement, the five plants, located in Ontario, Canada, are expected to begin construction during 2013 and 2014 with commercial operation expected in 2014. Canadian Solar will provide turnkey engineering, procurement and construction services and will provide operations and maintenance work after completion. BowMont Capital and Advisory acted as financial advisor to Concord on the transaction.

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