Canadian Solar has sold two flagship solar farms in New South Wales to CalEnergy Resources (Australia), a subsidiary of Northern Powergrid Holdings Company. Financial terms were not disclosed.
The solar farms — Suntop and Gunnedah — total 345 megawatt peaks and have long-term offtake agreements with a global-leading technology company. The projects have reached substantial completion and are expected to generate more than 700,000 megawatt-hours of green electricity annually, the equivalent of avoiding more than 450,000 tons of carbon-dioxide emissions annually.
In addition, Canadian Solar and CalEnergy also have 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.
“The sale of these projects in New South Wales paves the way for a strong collaboration between our respective companies,” said Shawn Qu,