{"id":287,"date":"2019-05-23T09:58:43","date_gmt":"2019-05-23T00:58:43","guid":{"rendered":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/?p=287"},"modified":"2019-07-22T13:19:04","modified_gmt":"2019-07-22T04:19:04","slug":"canadian-solar-subsidiary-recurrent-energy-completes-sales-of-mustang-solar-project-to-goldman-sachs","status":"publish","type":"post","link":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/2019\/287.html","title":{"rendered":"CANADIAN SOLAR SUBSIDIARY RECURRENT ENERGY COMPLETES SALES OF MUSTANG SOLAR PROJECT TO GOLDMAN SACHS"},"content":{"rendered":"\n
\n

GUELPH, Ontario<\/location>, May 16, 2019<\/chron> \/PRNewswire\/ — Canadian Solar Inc.<\/org><\/a> (the “Company”, or “Canadian Solar<\/org>“) (NASDAQ: CSIQ), one of the world’s largest solar power companies, today announced its wholly owned subsidiary Recurrent Energy, LLC<\/org><\/a> (“Recurrent Energy”) has sold its equity stake in the 134 MWp\/100 MWac Mustang solar project to the Renewable Power Group of Goldman Sachs Asset Management, L.P.<\/org> (“Goldman Sachs<\/org>“). This transaction completes Recurrent Energy’s sale of equity stakes in the 973 MWp portfolio of California<\/location> solar projects that came online in 2016. The Company expects to recognize the sales revenue from Mustang in the second quarter of 2019.<\/p>\n

Community choice aggregators (CCAs) Sonoma Clean Power<\/org> and MCE (formerly Marin Clean Energy) are the purchasers of the electricity from the Mustang project under long-term power purchase agreements.\u00a0Mustang became the first utility-scale solar project fully contracted with CCAs to obtain non-recourse financing in October 2015<\/chron>. Today, Recurrent Energy continues to lead the renewable energy industry in power contracts signed with CCAs. Wood Mackenzie reported in its U.S. Utility PV Market: Quarterly Update \u2013 Q1 2019<\/i> that Recurrent Energy holds 42 percent of all signed electricity contracts with CCAs.<\/p>\n

“We are thrilled to partner with Goldman Sachs<\/org> on the sale of the Mustang solar project, and this transaction again demonstrates Canadian Solar’s<\/org> ability to attract top tier investors,” said Dr. Shawn Qu<\/person><\/a>, chairman and chief executive of Canadian Solar<\/org>. “Constructed with a primarily local workforce, the Mustang project was a prime example of how solar project development benefits the surrounding communities.”<\/p>\n

Located in California’s<\/location>Central Valley<\/location>, Mustang produces enough clean electricity to power approximately 45,000 homes. Canadian Solar<\/org> will continue to provide asset management services to the project. More information on the project can be found in this quick video overview: vimeo.com\/recurrentenergy\/remustang<\/a>. <\/p>\n

About Recurrent Energy<\/b><\/p>\n

Recurrent Energy is a leading utility-scale solar and storage project developer, delivering competitive, clean electricity to large energy buyers. Based in the U.S., Recurrent Energy is a wholly owned subsidiary of Canadian Solar Inc.<\/org> and functions as Canadian Solar’s<\/org> U.S. project development arm. Recurrent Energy has approximately 5 GW of solar and storage projects in development in the U.S. Additional details are available at www.recurrentenergy.com<\/a>. <\/p>\n

SOURCE <\/span><\/span>Canadian Solar Inc.<\/p>\n

http:\/\/investors.canadiansolar.com\/news-releases\/news-release-details\/canadian-solar-subsidiary-recurrent-energy-completes-sale
\n<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

GUELPH, Ontario, May 16, 2019 \/PRNewswire\/ — Canadian Solar Inc. (the “Company”, or “C […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-287","post","type-post","status-publish","format-standard","hentry","category-releases"],"_links":{"self":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/287","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/comments?post=287"}],"version-history":[{"count":3,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/287\/revisions"}],"predecessor-version":[{"id":332,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/287\/revisions\/332"}],"wp:attachment":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/media?parent=287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/categories?post=287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/tags?post=287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}