Greentech Lead Canada: Canadian Solar has completed the
sale of a utility-scale solar power plant to Stonepeak Infrastructure Partners
for approximately C$48.0 million (US$48.4 million).
The solar power plant was built to provide clean,
renewable energy to power more than 1,200 homes in
eastern Ontario near the town of Napanee.
As project co-developer, AMP Solar Group financed the
acquisition of the asset with Stonepeak Infrastructure Partners and The
Manufacturers Life Insurance Company.
“The CS1 project represents a great opportunity for
AMP and its financing partners to own and operate a superior project
in Ontario’s thriving renewable market,” said Dave Rogers, CEO of AMP
Solar Group.
“This project marks Canadian Solar’s continued
success in the utility-scale solar power development space while
furthering Ontario’s goal to provide green energy and green jobs,”
said Shawn Qu, CEO and chairman of Canadian
Solar.
The solar installation is now connected to the grid
and includes approximately 50,000 Canadian Solar CS6M modules. Canadian
Solar also won a 20-year contract to provide operations and maintenance
services to Stonepeak for the utility-scale solar power plant.
“The Ontario renewables regime represents
an attractive investment opportunity and we are excited about partnering with
Canadian Solar and AMP Solar Group on this project,” said Trent Vichie,
founding partner of Stonepeak Infrastructure Partners.
China Development Bank provides C$93 million loan to Canadian
Solar
Canadian Solar has secured a C$93 million (US$93.8
million) loan from China Development Bank. The loan facility has a five-year
maturity. The loan will be used to partially finance the acquisition of a
majority interest in 16 solar projects owned by the former SkyPower
Limited.
editor@greentechlead.com