Canadian Solar to build 18.7 MW of solar parks in Ontario for Penn Energy
Aug 28, 2012 - Solar products maker Canadian Solar Inc (NASDAQ:CSIQ) said today it had won a deal to build and operate two solar parks with a combined capacity of 18.7 MW for Penn Energy Renewables Ltd in Canada's province of Ontario.
The company's unit Canadian Solar Solutions Inc has closed the turnkey engineering, procurement and construction (EPC) deal and an operations and maintenance agreement. Financial details were not provided.
Construction is to commence in the current quarter. The solar power plants are to be fully operations in the middle of 2013. Canadian Solar said that the parks were seen to generate enough power to cover the demand of 2,600 households. Furthermore, the facilities are estimated to save 432,000 tonnes of carbon dioxide emission for the next 20 years.
Penn Energy Renewables is part of the Penn Real Estate Group Ltd.