"This is the fourth of nine solar power plants totaling 86 MW AC that we agreed to build and sell to TransCanada for about $470 million," said Dr. Shawn Qu, Chairman and chief executive officer of Canadian Solar. "Our ability to successfully execute on this multi-facility project reflects the strength of Canadian Solar's team and our partners. This should give investors added confidence in our ability to execute on our broader late-stage project backlog, which now stands at over 1 GW."
The Mississippi Mills 10 MW AC solar power plant is located in the town of Mississippi Mills in Eastern Ontario. Canadian Solar Solutions Inc. will provide turnkey engineering, procurement and construction services to each of the nine projects.
This latest sale follows the previously announced closing of the sale of Brockville 1 on June 28, 2013, in addition to Brockville 2 and Burritts Rapids on September 30, 2013.