Canadian Solar Selling Interests in Aussie Solar Farms (M&A)
Guelph, Ontario-headquartered Canadian Solar Inc reports it has agreed to sell interests in three Australian solar farms with an aggregate 117 MWp to Foresight Solar Fund Limited ("FSFL").
The portfolio includes Longreach Solar Farm (17 MWp), Oakey 1 Solar Farm (30 MWp) and Oakey 2 Solar Farm (70 MWp) with FSFL acquiring 49 pct interests in each of Longreach and Oakey 1, and a 100 pct interest in Oakey 2.
The Oakey 1 and Longreach facilities have 20-year PPAs with the Queensland Government and are under construction with connection to the grid expected in March and September 2018 respectively.
Both Oakey 1 and Longreach have been funded to date by equity from Canadian Solar, grants from the Australian Renewable Energy Agency (ARENA) , and senior debt from the Clean Energy Finance Corporation (CEFC) and Bank of Tokyo-Mitsubishi UFJ.
(Source: Canadian Solar Inc., PR, 16 Oct., 2017) Contact: Canadian Solar, Dr. Shawn Qu, CEO, www.canadiansolar.com; Foresight Group, www.foresightgroup.com
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