Canadian Solar Inc. has announced that its wholly owned subsidiary, Canadian Solar Solutions Inc., has entered into an Engineering, Procurement and Construction (EPC) contract with Kinston Solar LP for the construction of 140 MW solar PV farm located in Ontario, Canada. This considered to be the largest EPC agreement ever signed by Canadian Solar.
The Kingston Solar LP 140 MW DC project is developed by Samsung Renewable Energy Inc. The project is expected to generate 173,000 MWh of electricity every year, which is enough to power about 16,400 Canadian households. Apart from providing electricity to the Canadian households, this project would generate approximately 700 manufacturing jobs at the manufacturing facilities of Canadian Solar located in London and Guelph.
The Kingston solar PV farm would deploy more than 464,000 Ontario-made Canadian Solar Maxpower CS6X high-performance and high-reliability PV modules, considered to have undergone rigorous factory inspection, testing and certification.
This EPC agreement is expected to generate revenue of over CAD 300 million for Canadian Solar. The construction of the project is scheduled to begin in the third quarter of 2014, and the plant is expected to be fully operational by third quarter of 2015.
Canadian Solar is known to have a strong business collaboration with Samsung, as the company has supplied its solar modules to several projects of Samsung. This is the second EPC assignment for Canadian Solar by Samsung, and it represents the second phase of Samsung’s Green Energy Investment Agreement (GEIA) in the Canadian province of Ontario. Earlier, Canadian Solar had signed an agreement for the construction of 130 MW DC Grand Renewable Energy Park in Haldimand County, also in Ontario. With this project, the solar power capacity in Ontario would reach 300 MW AC under GEIA.
During the first quarter of 2013, Canadian Solar and Samsung jointly signed an agreement for the establishment of a new manufacturing facility for PV modules in London, Ontario. The manufactured solar panels from this factory are being utilised for both plants of Samsung located in Ontario and would also be used for the future projects under GEIA.
According to the Bloomberg Industries Global Large Solar Energy Index, revenue of the Canadian Solar has tripled over the past one year, leaving behind only JinkoSolar Holding Co. and SunEdison Inc.
In 2010, the Ontario government signed an agreement with Samsung C&T Corporation and the Korea Power Electric Corporation to invest CAD 7 billion in the province’s solar and wind energy sector. The government had set conditions for project developers to procure a certain minimum percentage of the renewable energy equipment from local manufacturing facilities. The government had to make changes to this requirement after the World Trade Organisation found it to be in violation of international trade norms.
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