Canadian Solar, one of the world's largest solar power companies, has sold its 49 percent interest in three solar photovoltaic projects in Mexico.
The buyers were Korea Electric Power Corp., South Korea’s largest electric utility, and fund manager Sprott Korea. The Korean groups have acquired the 119-megawatt peak Horus project, the 125-megawatt peak Tastiota project and the 126-megawatt peak El Mayo project located in the Mexican states of Aguascalientes and Sonora, comprising a total of 370 megawatt peaks.
The transaction was the Korean groups’ first investment in the Mexican solar market and the second transaction with Canadian Solar, following their 2018 acquisitions of the Astoria, Astoria 2 and Barren Ridge projects in the United States.
The groups expect to develop further investment opportunities in the United States and Europe, as well as in Latin America, said Jay Lee, CEO of Sprott Asia, in a statement.
All of the projects are currently und
