TransCanada Corp. has acquired a trio of solar power facilities from Canadian Solar Solutions Inc., including two in New Liskeard.
The facilities, worth $182 million, are newly completed and generate 10 megawatts each. Liskeard 3 and 4 are located in the New Liskeard region, while the third is located east of Ottawa. The acquisition brings 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 chief executive officer, in a news release.
"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.”
TransCanada is headquartered in Calgary.
