Canadian Solar sells 3.3-MWp UK solar plant to Elm Trading

UK solar park. Author: Robert Pittman. License: Creative Commons, Attribution-NoDerivs 2.0 Generic

December 6 (Renewables Now) - Canadian Solar Inc (NASDAQ:CSIQ) on Thursday announced the close of the sale of its 3.3-MWp solar park in Somerset, England to Elm Trading Group.

The Milborne Port solar park, which is operating since March 2017, produces 3.3 GWh of power a year, enough to cover the needs of about 1,062 households and save 932 tonnes of carbon dioxide (CO2) emissions a year. It is accredited under the UK’s Renewables Obligation Certificate (ROC) regime, getting 1.2 ROCs per MWh.

The company is expected to recognise revenue from the divestment in the current quarter.

Canadian Solar said this was the last of its subsidised operational assets in the UK, which had a total capacity of 158 MWp. The company is now developing a pipeline of unsubsidised projects in Europe, with the first ones to be ready for construction around the middle of 2020, CEO Shawn Qu noted.

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Before joining Renewables Now, Alex was a UK-focused business news reporter. Now she is covering global news from the renewable energy industry with a special interest in M&A.

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