Canadian Solar to Secure 30 MWp in Japan’s 4th Solar Auction

Canadian Solar Inc. (the “Company”, or “Canadian Solar”) (NASDAQ: CSIQ), one of the world’s largest solar power companies, today announced that it has been awarded a 30 MWp project in Japan’s 4th solar energy auction.

The project is located in Maniwa City within Okayama prefecture and will be powered by high-efficiency Canadian Solar modules. Once constructed, the project will enter into a 20-year power purchase agreement with Chugoku Power Electric Company at a rate of ¥13.47 ($0.12) per kWh. The Company expects the project to reach commercial operation by 2024.

In addition to the 30 MWp won in Maniwa City, the Company recently acquired five utility-scale solar power projects totaling 20.5 MWp that have secured feed-in-tariff contracts and are expected to reach commercial operation in the 2020-21 time frame.

“Since we launched our Energy Business in Japan in 2011, Canadian Solar has completed the construction and grid connection of 39 solar power plants totaling 241.9 MWp, making us one of the largest utility-scale solar developers in the Japanese market. We are delighted to announce that our team in Japan continues to build on our track record of success, sourcing high-quality development opportunities through acquisitions as well as government tenders, which give us further certainty on the outlook for our Japanese energy business,” commented Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar Inc.

Story Source: Canadian Solar

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