Canadian Solar Sells EarthLight SP Plant Concord Green Energy
Canadian Solar announces the completion of it its EarthLight solar power plant and sells it to Concord Green Energy.
World’s major manufacturer of energy, Canadian Solar, made an announcement of completing the sale of 10-megawatt AC earthlight solar power plant to Concord Green Energy. The plant, situated in Georgina, was sold for $49.7 million. The renewable energy maker’s plant in Ontario has 45,648 of MaxPower CS6x-300/310 PV solar modules. This is the second deal signed between these two companies in just a week.
The EarthLight plant is 50 miles North of Toronto. The chief executive of the energy corporation, Shawn Qu, said, “Not only will Earthlight create additional green jobs, it will also provide sustainable clean solar energy to all people of Ontario.”
Canadian Solar sold Concord – another 9MWh solar plant in Elmvale – within this month for $65.6 million. So far, five plants have been bought and sold between these two organizations. The recently sold EarthLight plant will provide huge benefits in terms of energy and the environment. The energy expected to be produced is 17,892 MWh annually making 344,697 MWh in 20 years.
Concords senior vice president, Cliff McCracken, said, “This is the fifth plant we have purchased from the energy maker in the past year and a half for total installed capacity of 49megwatt. We look forward to this to further complement our portfolio of green energy producing projects across Canada.” Another plant sold to the company, Aria, is going to produce 15,956MW-hour of renewable energy annually making 277,754MW-hour in 20 years.
The solar power company has made numerous plants within this year along with its subsidiaries and has sold the plants internationally to countries such as US and Europe. It is also expanding more towards Singapore South Korea and even Brazil. Plants are not the only thing that the organization constructed, as it has built pipeline too, and its third quarter earnings reported that its projects have increased by 2.5GW.
The third quarter earning showed great profits even more than the expectations about revenues and earnings. The solar business is making a huge change; it is not only making profits from the business but also helping to fight the climate change and global warming. This problem is growing worldwide because the population around the globe is growing everyday with higher demand for energy.
Many organizations are now concentrating on climate factors as part of their corporate social responsibility. This includes particularly energy producers.
Canadian Solar stock closed at $28.90 after going green by 3.49% on December 23.