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Canadian Solar Gains on Deal for Ontario Project: Toronto Mover

Canadian Solar Inc. (CSIQ), the Ontario-based solar-panel company with manufacturing operations in China, rose the most in three weeks after announcing a deal to build a 130-megawatt power plant for a unit of Samsung C&T Corp. (000830)

The company, based in Guelph, Canada, gained 15 percent to $10.16 at the close in New York, the most since May 20.

Canadian Solar will receive about C$310 million ($304 million) to design and build the plant in Ontario for Samsung Renewable Energy, according to a statement today.

Construction is scheduled to begin in the third quarter and the solar farm may be complete by 2015. It will generate enough electricity for 13,750 homes.

To contact the reporter on this story: Justin Doom in New York at jdoom1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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