Canadian Solar comes out as the 2nd winner in Chile's power auction

• Canadian Solar Inc (NASDAQ: CSIQ) on Thursday validated that it was the second of just two winners in Chile's power auction a month earlier, protecting power purchase contracts (PPAs) for its Zaldivar solar-plus-storage project in the Chilean region of Antofagasta.

The project is currently in the middle stage of development. When it reaches commercial procedure in 2026, Zaldivar will be a 253-MWp solar farm with a battery energy storage space system (BESS) of 1,000 MWh, Canadian Solar said.

The solar power firm anticipates to begin building in 2024.

The centers will certainly run partially under 15-year US-dollar denominated PPAs that were awarded in the auction. Canadian Solar after that managed to put 126 GWh annually with certified power suppliers.

The rest of Zaldivar's production will certainly be offered to private off-takers, the business said.

In this year's tech-neutral power auction, the Chilean power commission looked for to attract 5,250 GWh each year for 15 years, but wound up with only 777 GWh/year supplied by Fotowatio Renewable Ventures (FRV) as well as Canadian Solar, bidding as Zapaleri SpA.