Renewables

TransCanada acquires two solar energy projects

Department of Energy DOE Valparaiso University research solar-thermal energy

TransCanada Corp. (NYSE, TSK: TRP) acquired two solar energy plants from Canadian Solar Solutions in Ontario as part of a 2011 agreement to acquire nine plants in total from the company.

The latest purchases – the Brockville 2 and Burritts Rapids projects – are in addition to the previously purchased Brockville 1 project. The combined capacity of the nine projects is 86 MW at a total cost of $470 million. All of the projects have 20-year power purchase agreements with the Ontario Power Authority.

TransCanada expects the remaining six projects to come into service by the end of 2014.

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