Canadian Solar Begins Work on 26.6 MW Solar Projects in Japan

• Canadian Solar has actually revealed it has actually begun service the building of 2 solar photovoltaic (PV) power projects in Japan.

Canadian Solar, among the globe's biggest solar power business, has actually revealed it has actually begun building and construction on 2 solar photovoltaic (PV) power projects in Japan.

The initial is a 13.6 MWp project in the Ibaraki Prefecture. The project will certainly be powered by 33,098 items of Canadian Solar's high-efficiency MaxPower components. When in operation, the plant is anticipated to produce about 15,901 MWh of tidy, dependable solar electrical power yearly, which will certainly be bought by Tokyo Electric Power Co., Inc. under a 20-year feed-in-tariff agreement at the price of JPY 32.0 (USD 0.29) per kWh. The Company anticipates the project to get to industrial procedure by mid-2021.

The 2nd project is a 13.0 MW project in the Fukuoka Prefecture. The plant is anticipated to produce roughly 15,250 MWh of solar power yearly, which will certainly be bought by Kyushu Electric Power Co., Inc. under a 20-year feed-in-tariff agreement at the price of JPY 36.0 (USD 0.33) per kWh. The project is additionally anticipated to get to industrial procedure by mid-2021.

Dr. Shawn Qu, Canadian Solar's Chairman as well as Chief Executive Officer stated, "Canadian Solar remains to create as well as create top notch projects in Japan with extremely eye-catching feed-in-tariffs. We got in the Japanese market in 2009, and also given that 2014, we have actually developed ourselves as one of the leading international programmers out there, having actually cumulatively created as well as attached over 290 MWp in utility-scale nuclear power plant. While brand-new subsidised programs are readied to end by 2021, we have a durable pipe of high feed-in-tariff projects as well as remain to see possibilities provided the Japanese federal government's ongoing initiatives to boost the infiltration of renewable resource."

Lately, the company has actually introduced that it finished the sale of the Yamaguchi Shin Mine, a 56.3 MW functional solar energy plant in the Yamaguchi Prefecture in Japan. Hana Financial Investment, a subsidiary of Hana Financial Group, got the solar energy plant for a business worth of roughly JPY 22.3 billion (around USD 205 million). Canadian Solar anticipates to identify the earnings from the deal in the initial quarter of 2020. This sale was initially prepared to enclose the 4th quarter of 2019 however was postponed as a result of legal as well as regulative responsibilities called for to be fulfilled before shutting the purchase.