Canadian Solar signs $310mn EPC contract for solar power plant

Canadian Solar EPC Grand Renewable Solar Samsung Renewable Energy Canada

Canadian Solar Inc. (Nasdaq: CSIQ) has entered a contract with Grand Renewable Solar LP, part of Samsung Renewable Energy, to provide engineering, procurement and construction services for a 130 MW solar power plant in Canada. The contract is for around C$310 million ($301.1 million).

Canadian Solar Chairman and CEO Shawn Qu said the contract is the largest EPC contract in the company’s history.

Construction will begin on the plant in the third quarter of 2013 and is expected to enter commercial operation in 2015, according to a release from Canadian Solar. The plant will use around 440,000 Canadian Solar CS6X high-performance module and power around 13,750 homes, the company stated.

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