Foresight Solar Fund completed the acquisition of a solar portfolio totaling 117 MW from Canadian Solar Inc in Queensland, Australia. The portfolio consists of three solar projects that include »Longreach« solar project (17 MW), »Oakey 1« (30 MW) and »Oakey 2« (70 MW) with the company acquiring 49 percent interests in each of »Longreach« and »Oakey 1«, and a 100 percent interest in »Oakey 2«.
»Longreach« and »Oakey 1« are under construction. According to Canadian Solar, »Oakey 2« has reached financial close with the Clean Energy Finance Corporation (CEFC) for a facility commitment of approximately AUD 55 million (USD 42.8 million). The company has won the EPC contract to complete the construction and another contract to provide O&M services for the initial two years after completion. The facility will be powered by 205,860 Canadian Solar KuMax CS3U-340P solar panels and is expected to reach commercial operation in November 2018. Once operational, the project will generate approximately 138,800 MWh per year.
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