Canadian Solar Inc. (Guelph, Ontario) on February 6th,
2017 announced that it has completed the sale of the outstanding shares
of three utility-scale solar farm holding companies, SSM 1 Solar ULC,
SSM 2 Solar ULC, and SSM 3 Solar ULC, totaling 59.8 MWAC to
Fengate SSM Holdco LP, an affiliate of Fengate Real Asset Investments
(Toronto) for over CAD 257 million (USD 195.32 million).
The transaction was closed on February 1st,
2017 and the Company expects to recognize the difference between the
sales proceeds and the book value of the projects under “Other income
(expenses)” in the income statement for the first quarter of 2017.
The SSM Portfolio is located in Sault Ste. Marie,
Ontario, Canada. As part of the deal, Fengate will take over the
outstanding debt from Norddeutsche Landesbank Girozentrale and Canadian
Solar will provide operations and maintenance services and asset
management services.
“We are delighted to announce the successful sale of
3 additional solar power plants. To this point, we have sold all of our
operating plants of 100 MWDC in Canada, including the
BeamLight and Alfred projects sold in December 2016,” comments
Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar.
source: http://www.solarserver.com
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