Canadian Solar (CSIQ) Unit Inks PPA With MCE Clean Energy
Zacks Investment Research | Sep 27, 2016 10:49PM ET
Canadian Solar Inc.’s (NASDAQ:CSIQ) wholly owned subsidiary, Recurrent Energy, has signed a Power Purchase Agreement (PPA) to supply 100-megawatt (MW) ac solar power to MCE Clean Energy for a period of 15 years.
Details of the Deal
Recurrent Energy will develop the Tranquillity 8 solar project, located in Fresno County, CA. Upon completion, the plant will supply 100 MW of solar power to MCE Clean Energy, which will be enough to power nearly 48,300 homes in the region. Construction of the project will start in 2017 and it will begin commercial operations by late 2018.
The main aim is to create job opportunities and provide favorable conditions for shifting to clean energy.
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