Canadian Solar sells two PV plants in China totaling approximately 69.5 MW to Shenzhen Energy

Canadian Solar reference PV plant in China
Canadian Solar reference PV plant in China

Canadian Solar Inc. (Guelph, Ontario) on April 12th, 2017 announced that its wholly-owned subsidiary, CSI New Energy Holding Co., Ltd. has completed the sale of two solar photovoltaic (PV) plants in China, totaling approximately 69.5 MW to Shenzhen Energy Nanjing Holding Co., Ltd., a subsidiary of Shenzhen Energy Group Co., Ltd., for approximately RMB687.1 million (USD 99.8 million).

The transaction was closed in March 2017 and the Company expects to recognize revenue from the sale of the plants when all revenue recognition criteria have been met.

"We are pleased to have closed the sale of two additional solar power plants in China to Shenzhen Energy," commented Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar.

"We are well on track to monetize our operating solar power plants in China and other countries. Shenzhen Energy is an important strategic partner of Canadian Solar and we look forward to further expanding our strong partnership with them for more opportunities in the future."

 

 

 

 

 

 

 

 

2017-04-14 Courtesy: Canadian Solar Inc.  | solarserver.com © Heindl Server GmbH

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