The CSI plant employs approximately 50,000 of Canadian Solar’s CS6M modules and produces enough electricity to power 1,200 homes in Ontario, Canada.
Canadian Solar CEO and chairman Dr. Shawn Qu termed the transaction a proof of the company’s continued success in the utility-scale solar power development space.
"It is a testament to the quality of Canadian Solar’s modules and the proven expertise of our projects team that a strategic company like Stonepeak has chosen the CS1 solar farm as their first investment in the Ontario market," said Dr. Qu.
Stonepeak Infrastructure Partners founding partner Trent Vichie added, "Canadian Solar Solutions’ projects team has done an excellent job completing this clean energy project and delivering a turnkey package for purchase by Stonepeak."
The AMP Solar Group that co-developed the project now financed the transaction with Stonepeak Infrastructure Partners and The Manufacturers Life Insurance Company.
AMP Solar Group CEO Dave Rogers called it a great opportunity for the company and its financing partners to own a project in Ontario’s renewable energy market.
Canadian Solar also secured a 20-year operations and maintenance services contract from Stonepeak for the said power plant for which Canadian Solar was also the developer, EPC and construction financier.
