PE-Backed BluEarth to Buy Solar Power Plants Worth $225M

Calgary-based BluEarth Renewables Inc., a renewable power producer, has agreed to purchase four utility-scale solar power plants valued at over $225 million from Canadian Solar Inc. The plants, which are located in Kawartha Lakes, Belleville, Beaverton and Napanee, Ontario, are expected to be constructed this year and to become operational in 2014. BlueEarth has been a portfolio company of Canadian private equity firms ARC Financial Corp., Teachers’ Private Capital and other investors since its founding via a $160 million deal in 2010.

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