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Canadian Solar closes sale of 68-MW Mexican plant to BlackRock fund

Solar park in Mexico. Author: Presidencia de la Rep├║blica Mexicana. License: Creative Commons, Attribution 2.0 Generic.

May 23 (Renewables Now) - Canadian Solar Inc (NASDAQ:CSIQ) has concluded the sale of its 68-MWp Aguascalientes solar project in Mexico to BlackRock Infrastructure Fund II for an undisclosed sum.

The particular plant was put onstream in January 2019. Canadian Solar won the project in Mexico’s first long-term electricity auction in 2016. Electricity and clean energy certificates (CELs) from the farm are sold to Mexican state-owned utility Comision Federal de Electricidad (CFE) under a 15-year power purchase agreement (PPA) and a 20-year CEL contract.

"We have a remaining pipeline of more than 600 MWp of solar projects in the country at various stages of development, including 368 MWp with awarded power purchase agreements,” said Shawn Qu, chairman and CEO of Canadian Solar.

Canadian Solar will provide operations and maintenance (O&M) services to the Aguascalientes plant as from the third year of operations, it said.

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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