Canadian Solar enters UK market with 46MW deal
A solar company based in Canada has entered the UK PV market with a deal to buy six projects.
Four of the projects, with a total capacity of 40.5MW, are currently under construction and are expected to be connected to the grid next month.
Another two projects totalling 5.5MW will start construction this month and are scheduled to be grid-connected in the second quarter of this year.
Together the projects are expected to produce more than 50,000kWh of electricity and cut around 38,000 metric tons of carbon emissions every year.
Shawn Qu, Chairman and CEO of Canadian Solar said: “The United Kingdom is an important and rapidly growing solar market and these transactions provide us with an attractive opportunity to leverage our expertise and balance sheet to redeploy capital to support our growth and create value for our shareholders.”
No further details on the projects or the transaction have been revealed.