Canadian Solar to sell 10MW of solar power plant to BlackRock

Canadian Solar subsidiary Canadian Solar Solutions has signed an agreement with a fund managed by BlackRock, to sell Westbrook 10MW AC utility-scale solar power plant in Kingston, Ontario, Canada.

With commercial operation expected in the second quarter of 2014, the construction of the Westbrook solar plant is already underway.

To complete the project, Canadian Solar is providing turnkey engineering, procurement and construction (EPC) services, and will also offer operations and maintenance (O&M) services after completion.

Canadian Solar chairman and CEO Shawn Qu said the company continues to differentiate itself from other companies with robust project pipeline, proven track record in project development and execution around the world.

"As we look to the future, we remain well positioned with a strong, bankable and global brand, a high-quality backlog of late stage projects and an active feeder flow of attractive new opportunities worldwide," Qu added.

BlackRock Infrastructure Investment Group managing director and head Jim Barry said the company is pleased to announce the purchase of additional solar project in the province of Ontario.

"Canadian Solar continues to demonstrate their focus on the development of high quality assets, and we look forward to strengthening our relationship with them further," Barry added.

BlackRock also acquired Demorestville and Taylor Kidd utility-scale solar power plants totaling 20MW AC, located in Demorestville and Odessa in Ontario, in September 2013.

Canadian Solar, which delivered around 6GW of solar modules to customers in about 70 countries, has operations in North America, South America, Europe, Africa, the Middle East, Australia and Asia.