Canadian Solar Selling Fourth Ontario Power Project to BlackRock

Canadian Solar Inc., the best-performing solar manufacturer last year, agreed to sell an Ontario power plant to a BlackRock Inc. fund, its fourth project in the province to be bought by the New York-based money manager.

The 10-megawatt Oro-Medonte power plant is expected to begin generating electricity in the third quarter, Guelph, Ontario-based Canadian Solar said today in a statement. Terms weren’t disclosed.

BlackRock bought Canadian Solar’s Demorestville and Taylor Kidd projects in September, and its Westbrook solar farm last month.

Canadian Solar increased more than eightfold in 2013, the most in the Bloomberg Industries Global Large Solar Energy Index.

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