Transcanada acquires two solar power projects

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Transcanada acquires two solar power projects TransCanada Corporation announced Wednesday it has acquired two additional Ontario solar power plants from Canadian Solar Solutions Inc. - the Brockville 2 and Burritts Rapids projects. This deal follows the previously announced purchase of Brockville 1 as part of an agreement made in 2011 to acquire nine solar power facilities from Canadian Solar Solutions.

The combined capacity of the nine projects is 86 megawatts (MW) at a total cost of approximately C$470 million. All nine projects have 20-year power purchase agreements with the Ontario Power Authority.

To date, TransCanada Corporation has invested over $5 billion in emission-less energy sources including the largest wind farm in New England and thirteen hydro power facilities in New Hampshire, Massachusetts and Vermont, as well as solar projects and Canada's largest wind farm development in Quebec.

TransCanada said the remaining six solar projects will come into service by the end of 2014, making the company the largest independent power producer in Ontario.

TransCanada is a leader in the development of operations of North American energy infrastructure including natural gas and oil pipelines, power generation and gas storage facilities. TransCanada operates a network of natural gas pipelines that extends more than 68,500 kilometres and has more than 400 billion cubic feet of storage capacity.

Canadian Solar Inc. is vertically integrated provider of solar modules, specialized solar products and solar power plants. Canadian Solar has delivered more than 5 GW of premium quality solar modules to customers in over 70 countries. 

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