Canadian Solar confirms 100-MW win in Victoria's renewables auction

Canadian Solar Inc (NASDAQ:CSIQ) today confirmed it has secured a support agreement from the Victorian government for its 100-MW Carwarp solar project in the Aussie state.

To be located near Mildura, the photovoltaic (PV) park will be equipped with Canadian Solar's passivated emitter rear contact (PERC) bifacial modules mounted on single-axis trackers. The particular modules have a front-side power output of up to 365 W and a nominal bifacial rating of 400 W.

Canadian Solar expects to start building the plant in the first quarter of 2019, planning commercial operations a year later. Once up and running, it will be able to generate 267,000 MWh each year, or as much as is needed to cover the demand of around 48,000 households. The production will also help offset 288,000 tonnes of carbon dioxide (CO2) emissions, the company estimates.

Canadian Solar noted that the support agreement guarantees revenue for the entire solar park’s output during the contracted period of 15 years. The contracts were awarded earlier this week to six projects totalling 928 MW as part of Victoria's first renewable energy auction.

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