LOS ANGELES-CIM Group, a Los Angeles-based real estate and infrastructure investment firm, recently revealed that its portfolio company, SkyPower Limited, an owner and developer of solar energy projects, has concluded a sale of controlling interests in 16 utility-scale solar projects. In addition, it executed an international joint venture agreement with Canadian Solar Inc.

The deal was for $185 million and included the acquisition of a five-year warrant for 9.9% of CSI’s outstanding shares. In addition to the Canadian projects sold, the new joint venture will develop solar projects in select international markets.

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