Photovoltaic module developer Canadian Solar has entered into a C$310m ($301.1m) engineering, procurement, and construction (EPC) agreement with Grand Renewable Solar, for the construction of a utility-scale solar power plant.
The proposed 130MW solar power facility, which will use approximately 440,000 Canadian Solar CS6X high-performance modules, is expected to generate 165,000MWh of electricity which can power around 13,750 homes annually.
Commenting on the deal, Canadian Solar chairman and chief executive officer Shawn Qu said, "We are delighted to announce our agreement with Grand Renewable Solar LP to collaborate on this landmark solar project in Canada.
"This transaction represents the largest EPC contract in our history and underlies the progress we have made in the transformation of our business from a module supplier into a leading total solutions provider with a global footprint and bankable brand."
During the development, construction and operation phases, the plant will create several hundred direct and indirect green energy jobs.
Construction of the solar power plant will commence in the third quarter of 2013. The plant will become completely operational in 2015, reducing around 162,000 metric tons of CO2 emissions over the 20-year period.