Republished December 29, 2014 - 3:40 PM
Original Publication Date December 29, 2014 - 6:00 AM
CALGARY - TransCanada Corp. (TSX:TRP) has acquired a solar power generation facility in the New Liskeard region of northeastern Ontario as part of a multi-year agreement with Canadian Solar .
The Liskeard 1 power plant is worth about $60 million according to Canadian Solar (Nasdaq:CSIQ)
The plant has 10 megawatts of generating capacity and a 20-year agreement to sell its output to the Ontario Power Authority.
Canadian Solar, based in Guelph, Ont., makes solar panels used to convert the sun's power into electricity and also builds and sells utility-scale solar electricity projects for investors.
Calgary-based TransCanada is best-known for its North American pipeline business but it's also active in power generation.
The Liskeard 1 power plant is the eighth acquired by TransCanada under an 2011 agreement with Canadian Solar.
Note to readers: This is a corrected story: A previous version incorrectly said New Liskeard was in northwestern Ontario
News from © The Canadian Press, 2014