Canadian Solar Sells 2 Power Plants to PSEG

Canadian Solar (NASDAQ: CSIQ  ) has scratched two properties off its list of assets. The company announced that its subsidiary, CSI Holdco, sold a pair of solar power plants to PSEG Solar Source, a unit of Public Service Enterprise Group (NYSE: PEG  ) . The terms of the sale were not disclosed.

The two plants, which together total 4.4 megawatts of DC power, are located in Northern California's Shasta County. Combined, they are now known as the PSEG Shasta Solar Farm. Construction was begun this past July, and completed last week. PSEG Shasta is expected to begin commercial operation early next year, and Canadian Solar said the project will utilize nearly 14,600 of its CS6X modules.

PSEG Shasta has a 20-year-long power purchase agreement in place with California utility Pacific Gas and Electric

Lately, Canadian Solar has been actively entering into or closing deals outside of its native country. Earlier this month, it signed an agreement to provide roughly 400,000 of its modules to China's Zhenfa New Energy. 


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2775705, ~/Articles/ArticleHandler.aspx, 10/21/2014 12:28:43 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement