Canadian Solar: Tranquillity Solar Project
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GUELPH, Ontario - Canadian Solar Inc. (the "Company", or "Canadian Solar") (CSIQ), one of the world's largest solar power companies, announced the commercial operation of the 200 MWac/258 MWp Tranquillity solar power project in California. The Tranquillity solar power project was developed by Canadian Solar's wholly owned subsidiary Recurrent Energy and is majority-owned by Southern Company subsidiary Southern Power.
Electricity and the associated renewable energy credits (RECs) produced by the Tranquillity solar facility will be sold under long-term power purchase agreements to offtakers including Southern California Edison (SCE).
"The Tranquillity solar facility is the product of long-term collaboration with financial partners, local communities and other stakeholders," said Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar. "This milestone is a testament to our commitment to the communities and ecosystems where we operate, which is a critical ingredient of our project development success."
In August 2015, Southern Power signed an agreement to acquire a 51 percent controlling interest in the Tranquillity solar power project. Canadian Solar retains 49 percent ownership of the facility.
The Tranquillity solar facility, which is expected to generate enough electricity to power approximately 50,000 homes, is sited on 1,900 acres of retired agricultural land in Fresno County.
"Recurrent Energy's Tranquillity solar project is a Smart from the Start project that uses drainage impaired, marginally productive farm lands being retired from agricultural production," said Carl Zichella, Director of Western Transmission for the Natural Resources Defense Council (NRDC). "Recurrent Energy should be commended for its responsible development practices."
Construction of the Tranquillity project created 456 peak construction jobs, with approximately 57 percent of workers hailing from within 50 miles of the project site. More than $5M was spent locally on materials and services to support construction activities, with Signal Energy Constructors providing engineering, procurement and construction services.
About Recurrent Energy
Recurrent Energy, a subsidiary of Canadian Solar Inc., is redefining what it means to be a mainstream clean energy company, with utility-scale solar plants that provide competitive clean electricity. The company has more than 4 GW of solar projects in development in North America. Additional details are available at: www.recurrentenergy.com
About Canadian Solar Inc.
Founded in 2001 in Canada, Canadian Solar is one of the world's largest and foremost solar power companies. As a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions, Canadian Solar also has a geographically diversified pipeline of utility-scale power projects in various stages of development. In the past 14 years, Canadian Solar has successfully delivered over 16 GW of premium quality modules to over 90 countries around the world. Furthermore, Canadian Solar is one of the most bankable companies in the solar industry, having been publicly listed on NASDAQ since 2006. For additional information about the company, visit the Company's website: www.canadiansolar.com