Canadian Solar Partners With Strata Solar To Light Up North Carolina
Sometimes it’s easier for solar companies to find a partner to develop projects for them. Canadian Solar (CSIQ :NASDAQ) seems to believe so as they are partnering with Strata Solar on 85 megawatts (MW) of projects in North Carolina.
Of the 15 projects the companies will be partnering on, the first, Fuquay Farm, is a 6.4 MW project that will be commissioned by the end of this month.
The other 14 projects will include many 6 MW utility-scale projects and a 1 MW rooftop system and a 3 MW farm.
While the entire portfolio of North Carolina projects is scheduled to be completed by the end of 2013, the partnership between the two companies should last longer as Canadian Solar has invested in Strata Solar.
Normally investing in a portfolio of projects bears a certain amount of risk, as companies like SunPower (SPWR :NASDAQ) can attest to. But with the entire 85 MW scheduled to be completed by the end of the year, this looks like a solid win for Canadian Solar.
Shares of Canadian Solar were down 7.52 percent in afternoon trading.