Low-risk solar buy for TRP

Article Excerpt

TRANSCANADA CORP. $47.76 (Toronto symbol TRP; Shares outstanding: 707.0 million; Market cap: $33.6 billion; TSINetwork Rating: Above Average; Dividend yield: 3.9%; www.transcanada.com) recently completed the purchase of another Ontario solar power facility from Canadian Solar (Nasdaq symbol CSIQ). TransCanada now owns four of the nine solar farms it agreed to buy from Canadian Solar in 2011. It expects to take possession of the remaining five by the end of 2014. In all, it will pay about $500 million. The company has 20-year deals to sell the power from these nine solar farms, which cuts the risk of this investment. TransCanada is a buy. buy…