Canadian Solar announced that its wholly-owned subsidiary, CSI New Energy has completed the sale of three solar power plants in China, totaling 44.3 MWp to Shenzhen Energy Nanjing Holding, a subsidiary of Shenzhen Energy Group.
“With the sale of these three solar plants, we have now sold a total of seven plants in China to Shenzhen Energy,” commented Dr. Shawn Qu, chairman and chief executive officer of Canadian Solar.
“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,” Qu added.
The transaction was closed on December 29, 2017and the Company expects to recognize revenue from the sale of the plants for the fourth quarter of 2017.