TransCanada Acquires Additional Ontario Solar Power Facility

(RTTNews) - TransCanada Corp. (TRP.TO, TRP) said it has acquired an additional Ontario solar power facility, known as Mississippi Mills, from Canadian Solar Solutions Inc. Mississippi Mills is a newly built 10-megawatt facility located west of Ottawa.

The deal follows the previously announced purchase of Brockville 1, Brockville 2 and Burritts Rapids solar facilities as part of an agreement to purchase nine solar facilities from Canadian Solar in Ontario.

The combined capacity of the nine solar facilities is 86 MW at a total cost of C$500 million. All nine projects have 20-year power purchase agreements with the Ontario Power Authority. TransCanada expects that the remaining five solar projects will come into service by the end of 2014.