Canadian Solar Inc. ("Canadian Solar") announced the sale of a 49% interest in a portfolio of solar energy projects to Korea Electric Power Corporation
(“KEPCO”) and to a fund managed by Sprott Korea (“Sprott”). Marathon Capital, LLC ("Marathon Capital") acted as the exclusive financial advisor to
Canadian Solar engaged Marathon Capital in March 2019 to pursue strategic alternatives for a portfolio of three solar photovoltaic projects in Mexico, totaling 370 MWp. Marathon Capital ran a comprehensive marketing effort emphasizing Canadian Solar’s development track record in Mexico, the projects’ long-term PPAs from CENACEs 3rd power auction, and the favorable power market fundamentals of Mexico. The process generated strong demand from a combination of both strategic and financial investors interested in acquiring the projects.
“This transaction is a major step forward in implementing Canadian Solar’s strategy in Mexico. We appreciate the efforts of the Marathon Capital team marketing the portfolio and facilitating the achievement of a result in line with our expectations.” - Rado Petkov, Managing Director, Mergers & Acquisitions, Energy Group, Canadian Solar
"It was a pleasure working with the Canadian Solar team on this important transaction. Marathon Capital’s process resulted in a successful outcome for our client and we look forward to working with Canadian Solar on future opportunities." - Ted Brandt, Chief Executive Officer, Marathon Capital
About Canadian Solar
Canadian Solar was founded in 2001 in Canada and is one of the world's largest and foremost 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 18 years, Canadian Solar has successfully delivered over 38 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.