February 19 (Renewables Now) - Canadian Solar Inc (NASDAQ:CSIQ) on Wednesday said it has started installing two solar parks in Japan with a combined capacity of 26.6 MWp.
The first is a 13.6-MWp solar farm in Ibaraki Prefecture. It will consist of 33,098 photovoltaic (PV) modules, which will produce about 15.9 GWh of power a year. The solar system has a 20-year power purchase agreement (PPA) in place with utility Tokyo Electric Power Co (TYO:9501) at a price of JPY 32.0 (USD 0.29/EUR 0.27) per kWh.
The other project is a 13.0-MWp solar facility in Fukuoka Prefecture, which will produce about 15.3 GWh of power annually. The solar park has a 20-year power purchase agreement (PPA) with utility Kyushu Electric Power Co (TYO:9508), which will pay JPY 36.0 per kWh.
Both solar parks are expected to be commissioned by the middle of 2021.
Canadian Solar has developed and connected to the grid over 290 MWp of utility-scale power facilities in Japan.
"While new subsidized programs are set to expire by 2021, we have a robust pipeline of high feed-in-tariff projects and continue to see opportunities given the Japanese government's continued efforts to increase the penetration of renewable energy," said CEO Shawn Qu.
(JPY 100 = USD 0.903/EUR 0.836)