TransCanada acquires three solar power plants from Canadian Solar

Canadian Solar Inc. has announced that its wholly owned subsidiary, Canadian Solar Solutions Inc., has closed the sale of three Canadian solar power plants, William Rutley, Liskeard 3 and Liskeard 4, totaling 30 MW AC and valued at over CAD$180 million (US$161.2 million) to TransCanada Corporation.

The William Rutley project closed on September 29, 2014 followed by Liskeard 3 & 4 on September 30, 2014

Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar Inc. commented:

We are delighted to complete the sale of these three utility-scale solar power plants to TransCanada, one of North America's most successful energy infrastructure companies. This transaction brings the number of project sales in Ontario in the third quarter of 2014 to five, and is another testament to our utility-scale project development capabilities and expertise, as we continue to expand our total solutions business model globally.

The William Rutley solar power plant totals 10 megawatt AC and is located in the town of Ingleside, Ontario. The Liskeard 3 & Liskeard 4 totaling 20 megawatts are located in the town of Temiskaming Shores, Ontario.

In late August we reported that Canadian Solar Solutions Inc.completed the sale of Good Light, a 10 MW solar power plant located in the town of Kawartha Lakes, Ontario, Canada, to a BluEarth Renewables Inc. subsidiary. The project was valued at over CAD$66.0 million.