Canadian Solar Sells Solar Park to Dominion Resources
Ontario, Canada-based Canadian Solar Inc. (CSIQ) announced completion of the sale of 28.4 MW West Antelope Solar Park to electric utility provider, Dominion Resources, Inc. (D).
Spread across 263 acres, the project is situated in Los Angeles County on the outskirts of Lancaster, CA. Canadian Solar has supplied 94,340 units of high performance CS6X-300/305P Quartech photovoltaic (PV.V) modules for this solar park and the Engineering, Procurement and Construction (“EPC”) services was provided by White Construction.
The total solar capacity from this project will be enough to power more than 6,100 homes and will reduce carbon emissions by 31.5 tons.
The project is expected to complete within a span of two years which includes various preliminary works including system installation. The project has a 20-years power purchase agreement with San Francisco, CA-based PG&E Corp. (PCG).
Recently, Canadian Solar has struck a deal to power major solar projects in Georgia by supplying solar panels of 5.1 MW capacity. The project is being built by Atlanta-based EPC provider, SolAmerica Energy, LLC and will be owned by Boston-based Citizens Energy Corp. It is expected to come online in Dec 2014 (read: Canadian Solar to Power 5.1-MW Projects in Georgia).
Per a recent release from U.S. Energy Information Administration (EIA) renewable energy consumption will increase by 12.7% to 9.118 quadrillion btu in 2015 from 8.093 quadrillion btu in 2012. Solar-based power production is expected to swell an impressive 130% to 0.522 quadrillion btu in 2015 from 0.227 quadrillion btu in 2012.
California has been attracting quite a number of solar companies to the state. On Nov 18, NRG Energy, Inc.’s (NRG) wholly-owned subsidiary, NRG Home Solar, announced the expansion of its footprint in California. The company will open two new offices in Merced and San Diego (read: NRG Energy Solar Unit Expands in California, Offers Loans).
Canadian Solar currently has a Zacks Rank #3 (Hold).
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