Canadian Solar Sells Two Power Plants to BlackRock-Managed Fund

Canadian Solar Inc. (CSIQ) sold two utility-scale power plants with a capacity of 20 megawatts to a fund managed by BlackRock Inc.

The sale was conducted at a valuation comparable to other recent transactions completed by Canadian Solar on a per megawatt basis in the Ontario market, the company said today in a statement.

The two plants are located in Demorestville and Odessa, Ontario. Construction started in the first and third quarter of 2013, with commercial operation expected in the fourth quarter of 2013 and second quarter of 2014, respectively.

TransCanada Corp. yesterday completed the purchase of two power plants from Canadian Solar for C$95 million ($92 million).

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