Canadian Solar subsidiary CSI Solar Power (China) is to sell its operating solar plants at Funing in Jiangsu Province to Create Technology & Science for approximately US$32.8m.
This deal will become effective after Create Technology & Science receives the approval from its board of directors and the state-owned Assets Supervision and Administration Commission of the State Council.
Canadian Solar chairman and chief executive officer Shawn Qu said: “This deal positions us well to continue to monetize our high quality solar power plant assets in China, recycle out capital and strengthen our balance sheet.
“We value our partnership with Create Technology & Science and look forward to our continued successful cooperation.”
Image: Canadian Solar
