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Canadian Solar offloads 200-MW project in Texas to Duke

Solar modules. Featured Image: Jackiso/Shutterstock.com

September 12 (Renewables Now) - The renewables arm of Duke Energy (NYSE:DUK) has formally bought the 200-MW/266-MWp Rambler solar project in Texas from Recurrent Energy, part of Canadian Solar Inc (NASDAQ:CSIQ).

The transaction, whose value was not disclosed, has now been completed and Canadian Solar expects to recognise most of the revenue from the sale in the third quarter of 2019, it said in a statement today.

The Ramble solar park will be built on about 1,700 acres in Tom Green County, where more than 733,000 of Canadian Solar's bi-facial BiKu modules will be installed. The plant is seen to enter into commercial operation in mid-2020 at which point it will start selling its output under a 15-year contract with an unnamed customer.

Rambler is Duke Energy Renewables’ fifth acquisition this year and represents the sixth solar project on which the company has partnered with Recurrent Energy since 2010.

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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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