Canadian Solar Sells Three PV Plants in China to Shenzhen Energy

Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar said, “With the sale of these three solar plants, we have now sold a total of seven plants in China to Shenzhen Energy.”

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Canadian Solar has announced that its wholly-owned subsidiary, CSI New Energy Holding Co., Ltd. has completed the sale of three solar power plants in China, totaling 44.3 MWp to Shenzhen Energy, a subsidiary of Shenzhen Energy Group Co., Ltd.

The transaction was closed on December 29, 2017 and the Company expects to recognize revenue from the sale of the plants for the fourth quarter of 2017.

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Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar said, “With the sale of these three solar plants, we have now sold a total of seven plants in China to Shenzhen Energy.”

He further said, "As a developer for solar power plants, we are delighted to see many traditional energy companies such as Shenzhen Energy are looking to own and grow more renewable energy assets. This trend will bring cleaner air to China."

Shenzhen Energy Nanjing Holding Co., Ltd. invests, constructs, and operates new energy and conventional energy projects.

Founded in 2001 Canadian Solar is a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions. The company also has a geographically diversified pipeline of utility-scale power projects in various stages of development.

Source: PR Newswire