Canadian Solar Inc. has acquired six solar projects totaling 46 megawatts of capacity in the United Kingdom, marking its entry into the country.
Four of the projects with a 40.5MW of capacity are under construction, and are expected to be connected start operating in March 2015. Construction of the other two projects totaling 5.5MW is expected to this month, with completion expected by June.
“The United Kingdom is an important and rapidly growing solar market and these transactions provide us with an attractive opportunity to leverage our expertise and balance sheet to redeploy capital to support our growth and create value for our shareholders,” said Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar. “We continue to evaluate several opportunities to expand our solar pipeline in the United Kingdom and look forward to making further announcements in the quarters ahead.”