Canadian Solar completes 8.6-MWp portfolio in Japan
October 20 – Canadian Solar Inc (NASDAQ:CSIQ) said today it has completed four photovoltaic (PV) power facilities in Japan totalling 8.6 MWp, bringing its cumulative installed capacity in the country to 15 MWp.
More specifically, the company has started the commercial operation of the 2.6-MWp Hijimachi Fujiwara plant in Oita Prefecture, the 2.2-MWp Koba and 1.7 MWp-Yusuicho facilities in Kagoshima Prefecture, and of the 2.1-MWp Tsukuba Holes park in Ibaraki Prefecture.
Tokyo Electric Power Co Inc will purchase the electricity generated by the Tsukuba Holes plant under a 20-year feed-in tariff (FiT) contract, while Kyushu Electric Power Co Inc will be buying the output of the other three facilities, also under 20-year deals.
The projects were financed by Rabobank Hong Kong pursuant to a credit deal that was announced in late July 2015. The credit facility has a two-year maturity and covers up to 20 MWp of solar projects.
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