Canadian Solar sells two solar power plants in China to Shenzhen Energy

Canadian Solar Inc, one of the world's largest solar power companies, announced on April 12 that its wholly owned subsidiary, CSI New Energy Holding Co, has completed the sale of two solar power plants in China.

The buyer is Shenzhen Energy Nanjing Holding Co, a subsidiary of state-controlled listed company Shenzhen Energy Group Co. The two solar plants generate 69.5 megawatts peak. The price paid is approximately 687.1 million yuan (US$99.8 million).

Founded in 2001 in Canada, Canadian Solar is one of the world's largest solar power companies. As a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions, Canadian Solar also has a geographically diversified pipeline of utility-scale power projects in various stages of development. In the past 16 years, Canadian Solar has successfully delivered over 19 gigawatts of modules to over 100 countries around the world.

Shenzhen Energy Nanjing Holding Co Ltd invests, constructs, and operates new energy and conventional energy projects.

"We are pleased to have closed the sale of two additional solar power plants in China to Shenzhen Energy," commented 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."

Date

19 Apr 2017

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