Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced that its wholly owned subsidiary, Canadian Solar Solutions Inc., completed the sale of SparkleLight, a 10 megawatt ("MW") AC solar power plant to a subsidiary of BluEarth Renewables Inc. ("BluEarth"). SparkleLight, located in Beavertown, Ontario, is the third of four planned solar power plants being acquired by BluEarth from Canadian Solar. The facility is valued at approximately C$66 million (USD$57 million) and uses Canadian Solar's CS6X-300/305P modules made in Canada.
"BluEarth is pleased to be expanding our renewable energy portfolio with the addition of the SparkleLight facility. This acquisition brings us one step closer to our goal of $1 billion of high-quality operating assets by 2017," said Kent Brown, President and Chief Executive Officer of BluEarth. "We value our relationship with Canadian Solar and look forward to continuing that relationship with the delivery of the LunarLight facility next year."
Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, commented, "We are pleased to announce the closing of the third utility-scale solar power plant to BluEarth Renewables, a private independent renewable power producer. The completion of the SparkleLight project highlights Canadian Solar's position as a global leader in the solar energy solutions space. We look forward to continuing our successful partnership with BluEarth on the final project in the coming months."
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