Canadian Solar sells 3.3-MWp United Kingdom-based solar plant to Elm Trading

Dec 7, 2019 03:44 PM ET
  • Canadian Solar Inc (NASDAQ:CSIQ) on Thursday announced the close of the sale of its 3.3-MWp solar park in Somerset, England to Elm Trading Group.

The Milborne Port solar park, that is working since March 2017, generates 3.3 GWh of electricity annually, sufficient to cover the needs of approximately 1,062 families and save 932 tonnes of carbon dioxide (CO2) emissions per year. It's licensed under the UK's Renewables Obligation Certificate (ROC) program, getting 1.2 ROCs per MWh.

The provider is forecast to recognise revenue from the divestment in the present quarter.

Canadian Solar reported that this was the final of its subsidised operational assets in the United Kingdom, which had a whole capacity of 158 MWp. The business is presently creating a pipeline of unsubsidised projects in Europe, together with the first ones to be ready for building around the middle of 2020, CEO Shawn Qu noted.

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