March 16, 2011 / 1:48 PM / 7 years ago

UPDATE 1-Canadian Solar to build third solar park in Ontario

* To build a 10.5 MW solar park in Thunder Bay, Ontario

* Says agreement in addition to two previous ones in December

* Says combined capacity of about 30 MW (Follows alerts)

March 16 (Reuters) - China-focused Canadian Solar Inc and SkyPower Ltd have signed a third agreement to build a 10.5 MW solar park in Thunder Bay, Ontario.

The companies had agreed in December to build a 10.5 MW solar park in Napanee and an 8.5MW solar park located on Thunder Bay International Airport Authority land.

The construction of all three projects, with a combined capacity of about 30 MW, is expected to be completed by the third quarter, Canadian Solar said.

SkyPower was awarded 148.3 MW solar projects by the Ontario Power Authority.

Canadian Solar posted lower-than-expected quarterly earnings a week ago and said some Italian customers were seeking to postpone orders.

Many solar companies are facing delayed or cancelled orders as cutbacks in French and Italian solar subsidies have put projects there on hold.

Shares of Canadian Solar were trading down 3 percent at $11.47 on Wednesday morning on Nasdaq. They have lost about 24 percent over the last month. (Reporting by Mayuresh Tungare in Bangalore; Editing by Don Sebastian)

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