290MW Italian PV sale completed by Canadian Solar
The sale of a 290MW solar portfolio in Italy has been completed by Canadian Solar.
The company finalized the sale to Falck Renewables of the remaining 30 percent of its shares of the Big Fish and the Iron solar ventures.
Both projects have a combined projected capacity of more than 290 MW and are located in Sicily.At the 383MW Fryslan offshore wind farm on IJsselemeer lake in the Netherlands, Van Oord has completed all 89 foundations.
The project is being built by a consortium of Van Oord and Siemens Gamesa named Zuiderzeewind.
The monopiles were manufactured by EEW.
In the fourth quarter of 2020, the company plans to announce revenue from sales.
Back in 2019, Canadian Solar partnered with Falck Renewables to build the Big Fish and Iron projects jointly, selling 70% ownership of the projects to the latter.
The projects have secured access to the grid and provisional land rights and have also sought licenses and permits.
Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, said: "We are pleased to have partnered with Falck Renewables on this initiative, which has enabled us to expand our portfolio in Italy and has brought progress in the development of our projects."
“Going forward, our strategy in Italy will focus on growing and diversifying our pipeline, currently in excess of 1.3GW across various regions in the country, with around 140MW expected to reach notice-to-proceed in 2021.
“We will also focus on securing long term energy sale agreements and maximise the value we generate from our projects."
Qu said Italy is one of the countries in Europe where solar energy has reached grid parity at the wholesale level.
“Therefore we expect the growth of energy sale agreements to accelerate in the following years,” he said.
“This is supportive of the ambitious goals set by the government to substantially increase its solar PV installed capacity over the next decade.”