Canadian Solar finalizes 10MW sale

Canadian Solar says it has completed the sale of the 10MW (AC) Val Caron solar PV facility in the city of Greater Sudbury, Ontario, for more than C$60m ($56.2m) to a unit of Vancouver-based Concord Green Energy.

The deal is part of a 49MW (AC) package of five solar PV projects in Ontario between the two companies announced in August 2013 for about C$290m).

Canadian Solar will provide turnkey engineering, procurement and construction services, and will also operate and maintain the plants after all of them are completed by the fourth quarter.

"We are excited to have reached another acquisition milestone," says Cliff McCracken, senior vice-president Concord Pacific, parent of Concord Green Energy.

Canadian Solar says its utility-scale solar project backlog in Canada now stands at over 570MW (DC).