Canadian Solar has entered into an agreement with Photon Energy to co-develop five utility-scale solar power projects in New South Wales.
Canadian Solar will acquire a 51 per cent shareholding in each of Photon Energy’s five project companies in Australia that carry a total of 1.14GW of projects.
The projects include the 316MW project in Gunning, which is fully owned by Photon Energy, as well as four projects co-developed by Photon Energy with Polpo Investment, including a 178MW project in Mumbil, a 165MW project in Gunnedah, a 286MW project in Suntop, and a 196MW project in Maryvale.
“This transaction represents an exciting moment for the Photon Energy Group with our long-term commitment to the Australian market bearing fruit,” Photon Energy NV CEO Georg Hotar said.
“This cooperation marks a tangible achievement of the entire team in Australia who have gained the trust of a leading global player in the solar industry such as Canadian Solar.”
Canadian Solar CEO Dr Shawn Qu said the company was delighted to bring 1.14GW of solar into the Australian market.
“As a very active developer for solar power plants in Australia, we will continue to strengthen our leading position in the market by partnering with Photon Energy,” Dr Qu said.