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Canadian Solar completes $103.1M drop-down sale of 3 solar plants in Japan

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Canadian Solar completes $103.1M drop-down sale of 3 solar plants in Japan

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.