Canadian Solar gets EPC order for 100-MW solar plant in Ontario

Jun 26, 2014 - Canadian Solar Inc (NASDAQ:CSIQ) said today it had won an engineering, procurement and construction (EPC) contract for the 100-MW Kingston solar farm in Ontario, developed by Samsung Renewable Energy Inc.

The plant's capacity is 140 MW in direct current (DC).

The Canadian solar power company noted it expects this EPC agreement with Kingston Solar LP to generate more than CAD 300 million (USD280m/EUR206m) in revenue.

The Kingston solar plant will use over 464,000 Ontario-made Maxpower CS6X modules supplied by Canadian Solar. Together, they will be able to produce some 173,000 MWh of power a year, enough to meet the electricity needs of about 16,409 households. The construction of the solar farm will commence in the third quarter of 2014 and is seen to be finalised a year later.

The contract represents Canadian Solar’s second EPC deal on a project developed by the renewable energy unit of South Korean group Samsung C&T Corp (SEO:000830). The scheme itself is part of phase II of Samsung’s Green Energy Investment Agreement (GEIA) for the addition of 300 MW of capacity in the Canadian province. In phase I, Canadian Solar worked on the 130-MW DC Grand Renewable Energy Park in Haldimand County.

(CAD 1.0 = USD 0.934/EUR 0.686)

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