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.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.