Canadian Solar Completes the Sale of Two Solar Power Plants in China to Shenzhen Energy

Canadian solar solar power project in China
Canadian Solar Project in China. Image courtesy of Canadian Solar.

Inc.  one of the world’s largest companies,  announced that its wholly-owned subsidiary, CSI New Energy Holding Co., Ltd. has completed the sale of two in China, totalling approximately 69.5 MWp to Shenzhen Energy Nanjing Holding Co., Ltd., a subsidiary of Shenzhen Energy Group Co., Ltd., for approximately RMB687.1 million (US$99.8 million). 

The transaction was closed in March 2017 and the Canadian Solar expects to recognize revenue from the sale of the plants when all revenue recognition criteria have been met. 

“We are pleased to have closed the sale of two additional solar power plants in China to Shenzhen Energy,” commented Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, “We are well on track to monetize our operating solar power plants in China and other countries. Shenzhen Energy is an important strategic partner of Canadian Solar and we look forward to further expanding our strong partnership with them for more opportunities in the future.”

Press Release About Press Release

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.