Thursday, October 2, 2014

TransCanada adds three additional solar facilities to company's power portfolio

TORONTO, CANADA: TransCanada Corp. has acquired three additional Ontario solar power facilities from Canadian Solar Solutions Inc. (Canadian Solar).

Each one of the newly built facilities has a generation capacity of 10-megawatts (MW) with Liskeard 3 and 4 both located in the New Liskeard region and William Rutley located east of Ottawa. These three new facilities were completed at a cost of approximately $182 million, bringing TransCanada's investment in its Ontario solar program to almost $400 million.

These three new projects have now started generating electricity under 20-year power purchase agreements with the Ontario Power Authority. The deal follows the previously announced purchase of four solar facilities as part of an agreement with Canadian Solar signed in 2011. Combined, these seven solar facilities are expected to generate enough electricity for more than 12,000 homes.

"As a company, we are proud that we have built a diversified portfolio that includes natural gas and liquids pipelines, as well as emission-less energy sources to meet market needs," said Russ Girling, TransCanada president and CEO. "Each year, we do more to reduce our own emissions and develop technologies to help us operate in a more environmentally sustainable way, while ensuring that Ontario's energy consumers continue to have their needs met."

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