According to Canadian Solar, the 8.5MW AC solar power plant valued at over CAD53m ($48m) is the first of four planned solar projects being acquired by BluEarth from the company, totalling 38.5MW AC.
The Little Creek 8.5 MW AC plant is located in the town of Napanee, Ontario, Canada.
Canadian Solar chairman and chief executive officer Dr Shawn Qu said the project sale closure allows the company to redeploy resources to other projects, while expanding its pipeline further, which exceeds 4.5 gigawatts.
"We continue to focus on higher quality, higher profitability, lower risk projects, which are both attractive to end buyers and give us increased visibility into our business operations beyond 2014," Qu added.
BluEarth is purchasing additional three utility-scale solar power plants in Kawartha Lakes, Belleville and Beaverton, Ontario, Canada, which are planned to reach commercial operation through the second quarter of 2015.
The parties have not disclosed the transaction value.
