TransCanada Buys Two Power Plants in Ontario From Canadian Solar

TransCanada Corp., co-owner of Canada’s biggest wind farm, bought two power plants from Canadian Solar Inc. for C$95 million ($91.9 million).

The Brockville 2 and Burritts Rapids projects in eastern Ontario total 16 megawatts and are among nine that TransCanada agreed in 2011 to buy from Canadian Solar, the Guelph, Ontario-based solar company said in a statement today.

The nine-plant deal comprises 86 megawatts of solar farms and will cost about C$470 million, according to the statement. They will all sell electricity to the Ontario Power Authority under 20-year agreements.

TransCanada acquired the Brockville 1 plant in June and the remaining six are expected to be operational by the end of next year.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE