{"id":16849,"date":"2022-07-07T09:00:00","date_gmt":"2022-07-07T13:00:00","guid":{"rendered":"https:\/\/recurrentenergy.com\/canadian-solar-completes-sale-of-two-solar-farms-totaling-345-mwp-in-new-south-wales-australia\/"},"modified":"2022-07-07T09:00:00","modified_gmt":"2022-07-07T13:00:00","slug":"canadian-solar-completes-sale-of-two-solar-farms-totaling-345-mwp-in-new-south-wales-australia","status":"publish","type":"post","link":"https:\/\/recurrentenergy.com\/es\/canadian-solar-completes-sale-of-two-solar-farms-totaling-345-mwp-in-new-south-wales-australia\/","title":{"rendered":"Canadian Solar Completes Sale of Two Solar Farms Totaling 345 MWp in New South Wales, Australia"},"content":{"rendered":"\n

GUELPH, ON,\u00a0July 7, 2022\u00a0\/PRNewswire\/ <\/strong>—\u00a0Canadian Solar Inc.<\/a>\u00a0(the \u00abCompany\u00bb, or \u00abCanadian Solar\u00bb) (NASDAQ: CSIQ), announced today that it has completed the sale of two flagship solar farms, Suntop and Gunnedah, totaling 345 MWp in\u00a0New South Wales, Australia, to\u00a0CalEnergy Resources (Australia) Limited\u00a0(\u00abCalEnergy\u00bb), a subsidiary of\u00a0Northern Powergrid Holdings Company.<\/p>\n\n\n\n

The two projects have long-term offtake agreements with a global leading technology company and will help support corporate decarbonization efforts. The projects have reached substantial completion and are expected to generate over 700,000 MWh of green electricity annually. This is equivalent to avoiding more than 450,000 tonnes of CO2-equivalent emissions annually or taking approximately 100,000 cars off the road each year.<\/p>\n\n\n\n

In addition to the sale of these projects, Canadian Solar and CalEnergy also entered into a multi-year development services agreement that provides a framework for the companies to continue to work together to build out Canadian Solar’s growing renewable energy pipeline in Australia.<\/p>\n\n\n\n

\u00abWe are delighted to work with CalEnergy in\u00a0Australia\u00a0to grow their renewable energy portfolio. The sale of these projects in\u00a0New South Wales\u00a0paves the way for a strong collaboration between our respective companies. In\u00a0Australia, we have now brought seven development projects to NTP (notice-to-proceed) and beyond, and continue to develop and grow our multi-GW solar and storage pipeline. I look forward to continuing to contribute to\u00a0Australia’s\u00a0decarbonization and renewable energy growth ambitions.\u00bb\u00a0said\u00a0Dr.\u00a0Shawn Qu<\/a>,\u00a0Chairman and CEO of\u00a0Canadian Solar.<\/p>\n\n\n\n

<\/div>\n\n\n\n
About\u00a0Canadian Solar Inc.<\/strong><\/h6>\n\n\n\n

Canadian Solar\u00a0was founded in 2001 in\u00a0Canada\u00a0and is one of the world’s largest solar technology and renewable energy companies. It is a leading manufacturer of solar photovoltaic\u00a0modules<\/a>, provider of solar energy and\u00a0battery storage solutions<\/a>, and developer of\u00a0utility-scale solar power\u00a0<\/a>and battery storage projects with a geographically diversified pipeline in various stages of development. Over the past 20 years,\u00a0Canadian Solar\u00a0has successfully delivered around 71 GW of premium-quality, solar photovoltaic modules to\u00a0customers across the world.<\/a>\u00a0Likewise, since entering the project development business in 2010,\u00a0Canadian Solar\u00a0has developed, built and connected over\u00a06.6 GWp<\/a>\u00a0in over 20 countries across the world. Currently, the Company has around 800 MWp of solar projects in operation, 5.3 GWp of projects under construction or in backlog (late-stage), and an additional 18.5 GWp of projects in pipeline (mid-to early-stage).\u00a0Canadian Solar\u00a0is one of the most bankable companies in the solar and renewable energy industry, having been publicly listed on the NASDAQ since 2006.\u00a0For additional information about the Company, follow\u00a0Canadian Solar\u00a0on\u00a0LinkedIn\u00a0<\/a>or visit\u00a0www.canadiansolar.com<\/a>.<\/p>\n\n\n\n

<\/div>\n\n\n\n
Safe Harbor\/Forward-Looking Statements<\/strong><\/h6>\n\n\n\n

Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the \u00abSafe Harbor\u00bb provisions of the\u00a0U.S.\u00a0Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as \u00abbelieves,\u00bb \u00abexpects,\u00bb \u00abanticipates,\u00bb \u00abintends,\u00bb \u00abestimates,\u00bb the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include general business, regulatory and economic conditions and the state of the solar and battery storage market and industry; geopolitical tensions and conflicts, including impasses, sanctions and export controls; volatility, uncertainty, delays and disruptions related to the COVID-19 pandemic; supply chain disruptions; governmental support for the deployment of solar power; future available supplies of high-purity silicon; demand for end-use products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in demand from major markets such as\u00a0Japan, the\u00a0U.S.,\u00a0China,\u00a0Brazil\u00a0and\u00a0India; changes in effective tax rates; changes in customer order patterns; changes in product mix; changes in corporate responsibility, especially environmental, social and governance (\u00abESG\u00bb) requirements; capacity utilization; level of competition; pricing pressure and declines in or failure to timely adjust average selling prices; delays in new product introduction; delays in utility-scale project approval process; delays in utility-scale project construction; delays in the completion of project sales; continued success in technological innovations and delivery of products with the features that customers demand; shortage in supply of materials or capacity requirements; availability of financing; exchange and inflation rate fluctuations; uncertainties related to the\u00a0CSI Solar\u00a0carve-out listing; litigation and other risks as described in the Company’s filings with the\u00a0Securities and Exchange Commission, including its annual report on Form 20-F filed on\u00a0April 28, 2022. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today’s date, unless otherwise stated, and\u00a0Canadian Solar\u00a0undertakes no duty to update such information, except as required under applicable law.<\/p>\n\n\n\n

<\/div>\n\n\n\n

Canadian Solar Inc. Contacts<\/strong><\/p>\n\n\n\n

<\/div>\n\n\n\n

Isabel Zhang<\/em><\/p>\n\n\n\n

Investor Relations<\/p>\n\n\n\n

Canadian Solar Inc.<\/p>\n\n\n\n

investor@canadiansolar.com<\/p>\n\n\n\n

<\/div>\n\n\n\n

David Pasquale<\/em><\/p>\n\n\n\n

Global IR Partners<\/p>\n\n\n\n

Tel: +1-914-337-8801 <\/p>\n\n\n\n

csiq@globalirpartners.com<\/p>\n\n\n\n

<\/div>\n\n\n\n

\"Cision\" View original content:https:\/\/www.prnewswire.com\/news-releases\/canadian-solar-completes-sale-of-two-solar-farms-totaling-345-mwp-in-new-south-wales-australia-301582155.html<\/a><\/p>\n\n\n\n

SOURCE Canadian Solar Inc.<\/p>\n","protected":false},"excerpt":{"rendered":"

GUELPH, ON,\u00a0July 7, 2022\u00a0\/PRNewswire\/ —\u00a0Canadian Solar Inc.\u00a0(the \u00abCompany\u00bb, or \u00abCanadian Solar\u00bb) (NASDAQ: CSIQ), announced today that it has completed the sale of two flagship solar farms, Suntop and Gunnedah, totaling 345 MWp in\u00a0New South Wales, Australia, to\u00a0CalEnergy Resources (Australia) Limited\u00a0(\u00abCalEnergy\u00bb), a subsidiary of\u00a0Northern Powergrid Holdings Company. 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