A 10MW PV plant in Ontario, Canada, has been sold to independent power producer BluEarth Renewables by Canadian Solar.
Canadian Solar announced that the sale of the plant, Good Light, has been completed. Good Light will be the second PV plant acquisition by BluEarth from Canadian Solar, with two more expected. The four plants together have a generation capacity of 38.5MW AC.
The deal for the four plants was announced in June of last year, with the deal worth around US$217.2 million. PV Tech reported then that the deal represented a sizeable chunk of Canadian Solar’s Ontario pipeline, which at that point stood at 400MW (DC).
Good Light itself is worth around C$66.0 million (US$60.3 million), Canadian Solar said, and is located in the Ontario town of Kawartha Lakes. BluEarth president and chief executive officer Kent Brown said the project would contribute to his company’s targeted US$600 million of wind, solar and hydropower assets, which BluEarth is seeking to acquire by 2015. Brown and Canadian Solar head Shawn Qu both said their companies were looking forward to their continuing relationship.
Canadian Solar’s Shawn Qu said: “The completion of this utility-scale solar farm has contributed significantly to job creation in Ontario during the construction and development phase through to the power plant operation and management phase. We look forward to continuing our successful cooperation with BluEarth on the remaining two projects and beyond.”
Headquartered in Calgary, BluEarth focuses on acquiring, developing, constructing and operating renewable energy assets in North America, although its main focus is on Canada.