Canadian Solar Solutions has announced it has sold two solar farms, located in Ontario in Alfred and Georgina, respectively, for a combined price of $152.5 million. A press release from the company said the deal was closed on December 29, 2016.
The buyers are affiliates of Concord Green Energy, which has previously purchased five solar projects from Canadian Solar, says the company. Concord Green Energy is part of Concord Pacific, a real estate company with property in Vancouver, Toronto, and elsewhere, and which also owns Novos Entertainment, an internet and TV company.
The projects will generate about 35,941 MWh of energy per year and 665,130 MWh over 20 years, according to Canadian Solar. The Alfred solar project is located on the south side of County Road 17, before Blue Corner Road, and began producing energy in 2016.
Canadian Solar Solutions is owned by Canadian Solar, a Guelph-based company that manufactures solar panels. In September, 2016, the company laid off 130 employees at its Guelph plant, where it continues to employ about 350 people.
Another solar project in the works
EDF Canada was awarded a contract for a solar energy project in Alfred-Plantagenet in March of 2016. The project will be located at the corner of County Roads 2 and 19, west of Curran, with construction expected to begin in 2018. A newsletter published by the company in August of 2016 said EDF has agreed to give Alfred-Plantagenet about $500,000 over the 20-year life of the project in the form of a Community Benefit Agreement, paid annually.