Canadian Solar completes sale of 309 MW solar portfolio to KEPCO
Post date: 13/03/2018 - 15:53
Canadian Solar Inc. announced its wholly owned subsidiary Recurrent Energy, LLC has finalized the sale of its interests in three solar photovoltaic projects totaling 235 MWac/309 MWp. South Korea's electric utility Korea Electric Power Corporation (KEPCO) acquired the interests in the »Astoria« (100 MW/131 MW), »Astoria 2« (75 MW/100 MW), and »Barren Ridge« (60 MW/78 MW) projects located in southern California, USA. Recurrent Energy developed the three projects, all of which reached commercial operation in 2016 and have long-term power purchase agreements.
According to the company, this transaction marks KEPCO's largest investment in the US solar market. KEPCO partnered with the Corporate Partnership Fund (COPA), a Korean private equity fund.