Canadian Solar, Axpo Italia sign solar PPA for 12 MWp

• Axpo Italia will certainly get the result of 12 MWp of solar parks that Canadian Solar Inc (NASDAQ: CSIQ) will certainly construct in Italy under a lasting power purchase agreement (PPA) revealed on Monday.

The bargain belongs to a more comprehensive structure agreement in between the two companies, struck in November 2020, under which they intend to join to 300 MWp of PPAs in the country.

Under the current offer, Axpo will certainly be paying an assured set price over a period of ten years for the power and also warranties of beginning (GOs) produced by 2 solar power plants near Ragusa and Enna, in Sicily. Construction of the photovoltaic (PV) parks will begin before the end of 2021, with power supply under the agreement beginning in April 2022. The plants will certainly utilize Canadian Solar modules and also produce about 22 GWh each year, or enough to power 8,640 houses.

"Agreements such as long-term PPAs finally permit the marketplace and all the actors included to definitively exit the motivation reasoning, making the plants economically lasting, programmable from the advancement perspective and also beneficial for all the stakeholders entailed. The hope is that this pattern, which is currently well developed in Europe, will soon achieve security in Italy too," stated Axpo Italia president Simone Demarchi.

Axpo Italia, part of the Axpo Group, is the 3rd biggest driver in the cost-free power market in Italy.