Canadian Solar secures $301.1m contract for the construction of solar plant

Canadian Solar has entered into a C$310m($301.1m) engineering, procurement, and construction (EPC) agreement with Grand Renewable Solar, for the construction of a utility-scale solar power plant.

The proposed 130MW solar power facility will comprise around 440,000 Canadian Solar CS6X high-performance modules and will generate 165,000MWh of electricity, enough to power around 13,750 homes annually.

Construction of the solar power plant is slated to take place in the third quarter of 2013. The plant will become completely operational in 2015, reducing around 162,000 metric tons of CO2 emissions over the 20-year period.

Commenting on the deal, Canadian Solar chairman and chief executive officer Shawn Qu said, “We are delighted to announce our agreement with Grand Renewable Solar LP to collaborate on this landmark solar project in Canada.

“This transaction represents the largest EPC contract in our history and underlies the progress we have made in the transformation of our business from a module supplier into a leading total solutions provider with a global footprint and bankable brand.”

The plant is anticipated to create several hundred direct and indirect green energy jobs, during the development, construction and operation phases.