December 20, 2011 / 12:22 PM / 7 years ago

UPDATE 1-TransCanada to buy Ontario solar projects from Canadian Solar

(Follows alerts)

Dec 20 (Reuters) - TransCanada Corp said it agreed to buy 86 megawatt of solar power projects in Ontario from a unit of panel maker Canadian Solar Inc for $470 million.

Under the deal, Canadian Solar Solutions will provide 9 fully-operational and commissioned solar projects that are expected to start between late 2012 and mid-2013.

The investment will immediately add to TransCanada’s earnings and cash-flow.

“The addition of these solar projects allows us to expand and add to our diverse power generating portfolio where a third of the power we own, or have interests in, comes from alternative or renewable energy sources,” TransCanada’s chief executive Russ Girling said in a statement. (Reporting by Aftab Ahmed in Bangalore; Editing by Saumyadeb Chakrabarty)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below