Canadian Solar has successfully started the commercial operation of four solar PV power plants in Japan, totaling 8.6MWp. Each of the projects comprises Canadian Solar’s PV panels, and power generated by them will be purchased by local power companies under 20-year contracts.
Financing for these four projects is being provided by Rabobank Hong Kong, pursuant to a credit agreement announced on July 28, 2015. As previously disclosed, the credit facility has a two-year maturity and will be used to finance the construction of an initial portfolio of up to 20 MWp of Canadian Solar's solar power plants in Japan.
"We are pleased to start commercial operation of four additional solar projects totaling 8.6 MWp, which brings our total megawatts in operation in Japan close to 15 MWp," commented Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar Inc. "We remain positive on the opportunities ahead for our energy business in Japan and remain committed to delivering reliable solar energy solutions around the world."
The four PV projects are:
- The 2.6MWp Hijimachi Fujiwara solar plant: comprising 10,098 Canadian SolarCS6P-255P modules, achieved commercial operation on October 13, 2015. The expected annual power generation is approximately 3,101MWh, and the electricity will be purchased by Kyushu Electric Power Co., Inc. under a 20 year feed-in-tariff contract at the rate of ¥36/kWh.
- The 2.2 MWp Koba solar plant: comprising 8,558 Canadian Solar CS6P-260P modules, achieved commercial operation on September 16, 2015. The expected annual power generation is approximately 2,810MWh, and the electricity will be purchased by Kyushu Electric Power Co., Inc. under a 20 year feed-in-tariff contract at the rate of ¥40/kWh.
- The 2.1 MWp Tsukuba Holes solar plant: comprising 8,250 Canadian Solar CS6P-255P modules, achieved commercial operation on September 24, 2015. The expected annual power generation is approximately 2,199 MWh, and the electricity will be purchased by Tokyo Electric Power Co., Inc. under a 20 year feed-in-tariff contract at the rate of ¥40/kWh.
- The 1.7 MWp Yusuicho solar plant: comprising 6,860 Canadian Solar CS6P-255P modules, achieved commercial operation on August 21, 2015. The expected annual power generation in approximately 2,226 MWh, and the electricity will be purchased by Kyushu Electric Power Co., Inc. under a 20 year feed-in-tariff contract at the rate of ¥36/kWh.
