Canadian Solar hooks to grid 5.2 MW of Japanese plants

Canadian Solar Inc (NASDAQ:CSIQ) said on Monday it has finalised the construction and grid connection of three solar photovoltaic (PV) parks in Japan with a combined capacity of 5.2 MWp.

In particular, the company has completed the 2.2-MWp Tsukuba Stones solar power plant in Kasama City, Ibaraki prefecture, along with the 2-MWp Tomigaoka solar farm and the 1-MWp Isa City facility, both located in Kagoshima prefecture.

"We are well on track to complete more projects in the quarters ahead in this important market that is expected to make an important contribution to our planned YieldCo," said Shawn Qu, chairman and CEO of Canadian Solar.

The Tsukuba Stones and Isa City plants will be selling their outputs to Tokyo Electric Power Co and Kyushu Electric Power Co, respectively, over the next 20 years at a rate of JPY 40.00 (USD 0.32/EUR 0.30) per kWh. Meanwhile, Kyushu Electric will also purchase the electricity generated at the Tomigaoka solar park at JPY 36.00 per kWh.

(JPY 100 = USD 0.805/EUR 0.741)

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