Canadian Solar to get involved in 122 MW of U.S. solar projects

Canadian Solar Inc. (NASDAQ: CSIQ) announced the company has acquired or entered a joint venture in 122 MW of utility-scale solar development projects within the U.S.

The 11 photovoltaic (PV) power plants range in size from 2 MW to 29 MW and construction is expected to begin in 2012 with the last project set to be completed in 2014.

The projects were spearheaded by Canadian Solar's U.S. Projects Team, which was started to further the company's project development presence in North America. This is the second market in which Canadian Solar has engaged in project development. The company already has a projects business in Canada that previously announced approximately 340 MW of projects in Ontario and has successfully delivered turnkey EPC services for three of those projects.

Canadian Solar estimates that its project solutions revenue will make up 25 percent of its total revenue in 2012, compared to 10 percent in 2011.

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