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Canadian Solar closes sale 18 MW of solar projects in Chile

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Canadian Solar closes sale 18 MW of solar projects in Chile

Canadian Solar Inc. wrapped up the sale of an 18-MWp portfolio of solar projects in Chile to Sonnedix Power Holdings Ltd. for an undisclosed sum, according to a Jan. 7 company statement.

The projects are expected to enter the construction phase this month and achieve commercial operation in the second quarter of 2019. Canadian Solar will supply solar modules for the projects. Once completed, the facilities will generate approximately 35,520 MWh of electricity per year.

"These are our first solar projects in Chile and their successful development and sale underscore our ability and commitment to expanding our presence in the major solar markets in the region," Canadian Solar Chairman and CEO Shawn Qu said.

The deal closed December 2018 and Canadian Solar expects to recognize the majority of the revenue from the sale for the fourth quarter of 2018.