TransCanada purchases Mississippi Mills solar plant in Canada

TransCanada Corporation has purchased Mississippi Mills solar power plant in Ontario from Canadian Solar Solutions.

The acquisition forms part of an agreement to purchase a total of nine solar facilities from Canadian Solar in Ontario, with a total installed capacity of around 86MW for $500m.

The power generated at these nine power plants will be purchased by Ontario Power Authority, under 20-year power purchase agreements.

Commenting on the acquisition, TransCanada president and chief executive officer Russ Girling said that the company is pleased to have acquired an additional solar facility in Ontario as part of its growing energy portfolio, one-third of which are facilities that produce electricity from emission-less sources.

"The addition of these solar facilities to our asset base continues to allow us to complement our existing operations in Ontario where we have become the largest independent power producer in the province," added Girling.

Located in west of Ottawa, the Mississippi Mills solar power plant has an installed capacity of around 10MW.

To date, the company has invested more than $5bn in emission-less energy sources including the largest wind farm in New England, 13 hydro power facilities in New Hampshire, Massachusetts and Vermont, the Ontario solar projects, as well as Canada’s largest wind farm development located in Quebec.