Canadian Solar Inc.'s (CSIQ) unit, Canadian Solar Solutions Inc., has reached an Engineering, Procurement, and Construction or EPC agreement with Grand Renewable Solar LP, a solar energy project developed by Samsung Renewable Energy Inc., to build a 130 MW utility-scale solar power plant. This EPC agreement is likely to generate nearly C$310 million, or $301.1 million of revenue for Canadian Solar. The solar power plant construction would begin in the third quarter of 2013, with the facilities expected to be fully operational in 2015.
This 130 MW (dc) utility-scale solar power plant would produce about 165,000 MWh of electricity per year and power around 13,750 homes, displacing nearly 162,000 metric tons of carbon dioxide emissions over the 20-year period. Further, the installation would include some 440,000 Canadian Solar CS6X high-performance modules, that are formally tested and certified, validating the quality of the company's products. The solar power plant is believed to create several hundred direct and indirect green energy jobs during the development, construction and operation phases of the project.
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