Canadian Solar today announced its wholly owned subsidiary Recurrent Energy has signed a build-transfer agreement for a base purchase price of approximately $138.4 million with Entergy Mississippi on a 100 megawatt solar photovoltaic project.
The 100 MWac Sunflower solar project, located on approximately 1,000 acres in Sunflower County, Mississippi, is being developed by Recurrent Energy. Once the facility is operational, which is expected by mid-2022, Entergy Mississippi will own the Sunflower project, allowing the regulated utility to power more than 16,000 homes with clean electricity.
"Across the globe, we continue to witness an evolution in the relationship that utilities have with solar energy," said Dr. Shawn Qu, chairman and chief executive officer of Canadian Solar. "This agreement marks one of the first build-transfer agreements for solar to be executed in the U.S., and we are very proud to have partnered with Entergy on this landmark deal. We look forward to a continued partnership on this and future projects."
The Sunflower project will use single-axis trackers and is expected to create approximately 360 jobs during construction.