\u00a0Canadian Solar Inc.\u00a0(“Canadian Solar”) (NASDAQ: CSIQ), one of the world’s largest solar power companies, today announced it has completed the sale of its 18 MWp portfolio of PMGD solar power projects in\u00a0Chile\u00a0to Sonnedix. The transaction was closed in\u00a0December 2018\u00a0and the Company expects to recognize the majority of the revenue from the sale of the projects for the fourth quarter of 2018.<\/p>\n
The projects, located in Maule and O’Higgins Regions, and developed under the country’s Small Distributed Generation Means scheme “PMGD”, are expected to commence construction imminently in January and reach commercial operation in the second quarter of 2019.\u00a0Canadian Solar\u00a0will supply 48,600 CS3U-MS\u00a0KuMax<\/a>\u00a0Mono PERC 375W modules to the projects, and once completed, the plants will generate approximately 35,520 MWh of electricity per year.<\/p>\n “The sale of our PMGD portfolio in\u00a0Chile\u00a0is another demonstration of the continuing success of\u00a0Canadian Solar’s\u00a0project development business in Latin America.\u00a0These are our first solar projects in\u00a0Chile\u00a0and their successful development and sale underscore our ability and commitment to expanding our presence in the major solar markets in the region,”\u00a0<\/span>said Dr.\u00a0Shawn Qu, Chairman and Chief Executive Officer of\u00a0Canadian Solar.<\/p>\n \n