Market Overview

UPDATE: TransCanada Acquires Ontario Solar Power Facility from Canadian Solar Solutions

TransCanada Corporation (NYSE: TRP) today announced it has acquired an additional Ontario solar power facility, known as Mississippi Mills, from Canadian Solar Solutions (NASDAQ: CSIQ). Mississippi Mills is a newly built 10-megawatt (MW) facility located west of Ottawa. This deal follows the previously announced purchase of Brockville 1, Brockville 2 and Burritts Rapids solar facilities as part of an agreement to purchase a total of nine solar facilities from Canadian Solar in Ontario.

The combined capacity of the nine solar facilities is 86 MW at a total cost of approximately $500 million. All nine projects have 20-year power purchase agreements with the Ontario Power Authority. TransCanada anticipates the remaining five solar projects will come into service by the end of 2014.

Posted-In: News M&A

 

Most Popular

Related Articles (CSIQ + TRP)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free