The company based
in Calgary, TransCanada stated that it entered into a $ 470 million investment
to buy new solar projects in Ontario.
These proposed
Canadian Solar Solutions will forward a total production capacity of 86
megawatts.
The president of
TransCanada, Russ Girling, said that the investment has low risks and should
generate revenue quickly.
The agreement
provides that each of the nine projects will be developed and built by Canadian
Solar Solutions and it uses photovoltaic panels that capture energy from the
sun and transform it into electricity.
TransCanada will
purchase other projects after commissioning the facilities in late 2012 and
mid-2013.
The energy
company has become the largest independent power producer in Ontario.
The
province has recently turned to the development of renewable energy - solar,
wind, biomass and other fuels - to phase out its coal-fired power generation.
Well known for
its network of pipelines that transport oil from western Canada to the United
States, TransCanada made the headlines for some time in connection with its
proposed Keystone XL pipeline that would run from Alberta to refineries in
Texas.
hi. thanks for sharing such an interesting and informative post. will be looking up for more updates.
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