Windel Capital partners with Canadian Solar to Co-Develop 1.4 GWp Pipeline of Solar Projects in the UK
NEWCASTLE, UK, December 1st, 2020 – Windel Capital Ltd (the “Company”, or “Windel”), today announced they have signed a Project Development Agreement with Canadian Solar Inc. (“Canadian Solar” or “Canadian”) (NASDAQ: CSIQ) to co-develop 1.4 GWp of solar projects in the UK.
Under the agreement, Windel will deliver 1.4 GWp of early-stage solar projects under development through to ready-to-build (“RTB”) status with Canadian providing funding, support, and the procurement of power purchase agreements. The first projects are expected to reach RTB in the second half of 2021, and Windel are exploring the potential for several of them to benefit from co-located battery storage systems.
Windel Capital has extensive industry experience, as demonstrated by securing the 1.4 GWp pipeline of projects over the course of only 18 months. “We are very excited to be working again with Canadian Solar after transacting with them on a 10 MWp FIT/CIC (“Feed-in-Tariff” / “Community Interest Company”) project in Wales,” said Gary Toomey, Managing Partner of Windel Capital, adding, “Canadian Solar is a perfect fit for us as we both share common goals and objectives. We are also looking forward to building long term sustainable relationships with our landowner clients and to co-deliver clean and affordable solar energy.”
The agreement will support both Windel’s and Canadian’s growth in the UK and contribute towards strengthening the market position of both parties.
About Windel Capital
Founded in 2018, Windel Capital is a privately held company that specialises in the origination, development and asset management of renewable energy projects and low carbon disruptive technologies. Windel Capital has more than 1.4 gigawatts of clean, renewable power in various stages of development. The Team at Windel Capital is comprised of investment professionals with leading industry expertise across sourcing, financial analysis, power markets and physical asset analysis and operations. The team takes a long-term ownership approach to the operations and management of renewable assets and benefits from extensive network of relationships, leading institutional infrastructure and in-house industry knowledge and experience. For additional information about Windel Capital on Linkedin or visit www.windelcapital.co.uk
About Canadian Solar Inc.
Canadian Solar was founded in 2001 in Canada and is one of the world’s largest solar power companies. It is a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions and has a geographically diversified pipeline of utility-scale solar power projects in various stages of development. Over the past 19 years, Canadian Solar has successfully delivered over 49 GW of premium-quality, solar photovoltaic modules to customers in over 150 countries. Canadian Solar is one of the most bankable companies in the solar industry, having been publicly listed on NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com
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