Canadian Solar announced that its wholly-owned subsidiary, Recurrent Energy, has completed the sale of the Slate project to Goldman Sachs Renewable Power (GSRP).
Revenue from the transaction will be recognized in the first quarter 2021 and commercial operation is anticipated in late 2021. The Slate project will generate enough low-cost, clean energy to power approximately 126,000 California homes.
The Slate project is a 300 MWac solar plus 140.25 MW/561 MWh storage project located in Kings County, California, and has commenced construction. Canadian Solar’s majority-owned energy storage subsidiary, System Solutions and Energy Storage (SSES), will provide the battery storage integration solution for the project. Additionally, PNC Bank is providing a tax equity commitment to the project, which demonstrates its pledge to not only manage its own operations in an environmentally sustainable manner, but also to support clients with innovative financing options as the wor