Canadian Solar Completes the Sale of Illumination Solar Power Plant to DIF

Canadian Solar Inc. one of the world's largest solar power companies, today announced the sale of the 10 MW AC (14 MW DC) Illumination LP ("Illumination") solar power plant to an affiliate of DIF Infrastructure III ("DIF"). The solar power plant, valued at CAD $65.9 Million (USD$48.4 Million), consists of approximately 47,448 Canadian Solar MaxPower CS6X-300/310P PV modules and is located in Scugog, Ontario. It reached commercial operation on November 13, 2015, and will sell electricity pursuant to a 20-year Independent Electricity System Operator feed-in-tariff contract.

The environmental benefits that will be generated from this solar system are significant. The amount of clean solar energy that the Illumination plant will generate is estimated at 17,892 MWh per year, and 344,697 MWh over 20 years. The amount of carbon dioxide that will be displaced during the system's 20 year lifetime is approximately 237,686 metric tons, equivalent to taking approximately 50,000 cars off the road for one year.

Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, commented, "We are pleased to announce the sale of Illumination LP to DIF. This marks the third transaction closed between Canadian Solar and DIF, and we thank them for their continued partnership."

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Source: Canadian Solar
Date: Dec 15, 2015