October 22 (Renewables Now) - Canadian Solar Inc (NASDAQ:CSIQ) said today it has won a 30-MWp photovoltaic (PV) project in Japan's 4th solar energy auction.
The 20-year power purchase agreement (PPA) with Chugoku Power Electric Company was awarded with a rate of JPY 13.47 (USD 0.124/EUR 0.112) per kWh.
Located in Maniwa city within Okayama prefecture, this PV facility will be comprised of Canadian Solar's high-efficiency modules. The company expects commercial operations to start by 2024.
Canadian Solar has also recently acquired five utility-scale solar power projects in Japan with a combined capacity of 20.5 MWp. These schemes have feed-in-tariff contracts in place and are scheduled to begin power supply in the 2020-2021 timeframe, the firm said.
The company currently has 241.9 MWp of installed solar capacity in Japan, divided between 39 power plants, chairman and CEO Shawn Qu stated.
(JPY 100 = USD 0.921/EUR 0.828)