Canadian Solar Inc. completes the sale of its two flagship solar farms in New South Wales in Australia with 345 megawatt-peak capacity to CalEnergy Resources (Australia) Limited.
In a statement, Canadian Solar said the Suntop and Gunnedah solar farms, which are expected to generate over 700,000 megawatt-hours annually, have long-term offtake deals with a technology firm.
The power the solar farms can generate is equivalent to avoiding over 450,000 tonnes of carbon dioxide emissions yearly or taking around 100,000 cars off the road annually.
“The sale of these projects in New South Wales paves the way for a strong collaboration between our respective companies. In Australia, we have now brought seven development projects to NTP (notice-to-proceed) and beyond, and continue to develop and grow our multi-GW solar and storage pipeline. I look forward to continuing to contribute to Australia's decarbonization and renewable energy growth ambitions,” Canadian Solar Chairman and CEO Shawn Qu said.
Aside from the sale, the two companies also enter a multi-year development services agreement which provides a framework for the companies to continue their collaboration to build Canadian Solar’s renewable energy pipeline in Australia.