Canadian Solar Inc. completed the drop down of three operational solar power plants totaling 30.4MWp in Japan to Canadian Solar Infrastructure Fund Inc. for ¥11.5 billion, or US$103.1 million.
The portfolio consists of the 27.3-MWp Daisen-cho plant in Tottori Prefecture, and the 2.1-MWp Ena-shi and 1-MWp Takayama-shi plants in Gifu Prefecture. The plants sell their output under 20-year, feed-in tariff contracts.
The transaction expands Canadian Solar Infrastructure Fund's current capacity to 105.6 MWp from 75.2 MWp, according to a Sept. 6 news release.
As of Sept. 5, US$1 was equivalent to ¥111.54.