Canadian Solar Sells Third Ontario Power Plant to RET Capital

Canadian Solar Inc., the third-largest photovoltaic-panel manufacturer, sold a 14.1-megawatt power plant to energy investor Renewable Energy Trust Capital.

The CityLights solar plant in Chesterville, Ontario, was purchased for an undisclosed amount, San Francisco-based RET Capital said Monday in a statement. Canadian Solar said separately the sale was made in the first quarter at a “valuation comparable to other recent project sales completed by Canadian Solar on a per-megawatt basis.”

RET Capital said it now owns three Canadian Solar-built solar plants across the province with more than 40 megawatts of generating capacity. The company plans to continue working with Guelph, Ontario-based Canadian Solar on other projects, RET Capital Chief Executive Officer John Bohn said in its statement.

Trina Solar Ltd. and Yingli Green Energy Holding Co. were the largest solar-panel producers by shipments last year.

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