Canadian Solar has secured six solar power projects worth 46 MW in the United Kingdom.
These six projects will together generate around 50,183 kWh of electricity annually.
Right now, four projects totaling 40.5 MW are under construction.
These projects are expected to be connected to the grid in March 2015.
The remaining two projects totaling 5.5 MW will start construction by the end of February, which will be completed by the second quarter of 2015.
It is estimated that the clean electricity generated can displace almost 38,140 metric tons of carbon dioxide per year.
In another development, Canadian Solar entered into a definitive agreement with Sharp Corporation to acquire Recurrent Energy for approximately $265 million.
Recently, Canadian Solar has completed the sale of two 10 MW AC solar power plants, DiscoveryLight and FotoLight, to Renewable Energy Trust (RET) Ontario Holdings.
Valuation of the projects is comparable to other recent project sales completed by Canadian Solar on a per megawatt basis in the Ontario market.
Last month, Canadian Solar has initiated the sale of its 10 MW AC Glenarm solar power plant to an associate firm of DIF Infrastructure III (DIF).
The solar power plant that utilizes CS6X photovoltaic modules supplied by Canadian Solar is valued around C$60 million or US$49 million.
It has been estimated that Canadian Solar’s total late-stage solar project pipeline stands at 1.4 GWp, same as that in November 2014.
The company could not add much to the capacity despite the fact that during the fourth quarter of 2014, 100 MWp of projects were completed in Canada and U.S.
Sabeena Wahid
editor@greentechlead.com