Canadian Solar has sold two PV power plants totalling 20MW in capacity to multinational investment management corporation BlackRock. The two companies entered an agreement on 30 September with Canadian Solar signing off the two utility-scale plants in Ontario, Canada to a fund managed by Blackrock.
According to Canadian Solar, the deals are inline with recent deals made by the company in terms of cost per megawatt. PV Tech estimates that the new deal is worth around US$114.9 million for the two plants based on the value of two plants sold to energy infrastructure company TransCanada recently and featured on PV Tech earlier this week.
Canadian Solar will provide turnkey engineering, procurement and construction (EPC) services for the two Ontario plants, one in the village of Demorestville and the other in the township of Odessa. The plants will utilise around 95,980 Canadian Solar CS6X modules, power around 3,340 homes and have been pencilled in for a 20-year operational period, contracted to the Ontario Power Authority. Canadian Solar has covered the modules with a 10-year warranty for materials and workmanship and a 25-year linear power output guarantee. The plants are also covered by a third party insurance policy.
PV Tech also reported from a talk by Michael Eckhart, global head of environmental finance and sustainability at global investment bank Citigroup that EU PVSEC conference that as a stable asset class, PV has made cheaper access to capital investment possible. Eckhart pointed out that the full potential of PV to attract capital is, to a large extent, still untapped.