Canadian Solar said to explore sale of Indian power assets
Canadian Solar Inc., a maker of solar panels, is exploring the sale of its Indian solar power assets, worth around 108 megawatts (MW), two people aware of the development said.
“Canadian Solar is a panel maker and the building and owning of assets is not a core business for them. Panel makers generally create such capacities as a showcase for their panels and they generally keep building and selling such assets,” said one of the two people cited above, requesting anonymity as the talks are private.
The 108MW project is in late stages of development and they are looking at divesting it to other renewable energy producers and are having a conversation around the same currently, he added. “A possible sale of the assets could fetch them anywhere between $100-150 million,” he said.
In August, Canadian Solar sold a 281MW under construction solar power project in US to Sempra Renewables, Llc.
Canadian Solar is a manufacturer of solar photovoltaic modules and provider