Canadian Solar has secured its largest EPC contract to date with the signing of an agreement to build a 130MW PV power plant in Ontario, Canada for Samsung Renewable Energy.
The deal is worth US$301.1 million for Canadian Solar, which will employ 440,000 of Canadian Solar’s CS6X high-performance modules. Construction of the power plant will begin in the third quarter of 2013, with the facilities expected to be fully operational in 2015.
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Dr. Shawn Qu, chairman and chief executive officer of Canadian Solar, said, “This transaction represents the largest EPC contract in our history and underlies the progress we have made in the transformation of our business from a module supplier into a leading total solutions provider with a global footprint and bankable brand.”
The contract is with Grand Renewable Solar LP, a solar energy project developed by Samsung Renewable Energy
The PV power plant is expected to produce approximately 165,000MWh of electricity per year and power approximately 13,750 homes, displacing approximately 162,000 metric tons of carbon dioxide emissions.