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Former Q-Cells Canadian Solar-Power Plants Sold Off to Investors

Sept. 19 (Bloomberg) -- Global PVQ SE, the company created to take over the assets of Q-Cells SE after the German business went bankrupt, sold seven solar-power facilities in Canada.

The Rainy River First Nations, an indigenous group, bought three plants with total capacity of 25 megawatts and Fiera Axium Infrastructure Canada II bought four with 42 megawatts, Henning Schorisch, administrator for Global PVQ, said in a statement.

The sale will bring “double-digit” million-euro income to the company’s creditors by 2014, according to today’s statement.

Rainy River is based in Ontario, Canada’s largest province, which is phasing out coal power plants with the help of a feed-in tariff for renewable sources including solar technology.

To contact the reporter on this story: Stefan Nicola in Berlin at snicola2@bloomberg.net

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

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