Canadian Solar completes US$48.4 million sale of utility-scale solar plant to Stonepeak

Canadian Solar advised that the sale of its Canadian Solar 1 installation has been completed with the utility-scale power plant sold to Stonepeak Infrastructure Partners for US$48.4 million. Canadian Solar was the developer, EPC and construction financier for the project, which is built near the town of Napanee. The installation is connected to the grid and uses nearly 50,000 of the company’s CS6M modules.

Canadian Solar additionally noted that it was selected to provide operations and maintenance to Stonepeak for the plant under a 20-year contract. “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 Dr. Shawn Qu, CEO and chairman of Canadian Solar. “It is a testament to the quality of Canadian Solar's modules and the proven expertise of our projects team that a strategic company like Stonepeak has chosen the CS1 solar farm as their first investment in the Ontario market.  We are also very excited to complete our first sale of a Canadian Solar owned solar power project in Ontario.”