Canadian Solar Solutions and SkyPower have signed an engineering, procurement and construction (EPC) agreement, which will see the latter commission two solar parks in Ontario, with a nameplate capacity of 18.5MW. The 10.5MW Napanee and 8.5MW Thunder Bay facilities, which are scheduled to be completed by the middle of next year, will generate around 19 million KWh in their first year of operation and a further 400 million kWh over the following 20.
“A new study called Solar Vision 2025, issued by the Canadian Solar Industry Association and prepared by consultants Ernst & Young, reports the cost of solar power projects will be cut by more than 50% before 2025, making the solar electricity competitive with electricity generated by oil, gas, hydro or nuclear plants,” said Dr. Shawn Qu, CEO and president of Canadian Solar. “The report illustrates that solar power is already price-competitive with other sources at peak times. Agreements like the one announced today with SkyPower are very important. By partnering and also working closely together with the political leaders and other stakeholders in the province, we can help make the predictions in the study a reality.”
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“This agreement with Canadian Solar is an important milestone for both our companies and a direct result of the Province of Ontario's efforts to create a world-leading market for renewable power,” said Kerry Adler, president and CEO of SkyPower. “Agreements such as these are expected to create hundreds of new green energy jobs for Ontarians enhancing the solar industry's positive direction for a more sustainable environment for future generations.”