Canadian Solar wins 63MWp solar project in Mexico

Canadian Solar wins 63MWp solar project in Mexico

Canadian Solar (NASDAQ:CSIQ) today announced that it has won a 63 MWp solar power project in Mexico.

The solar producer will develop and build the solar power planted, located in Aguascalientes, and once connected to the grid the electricity generated will be sold to the Comisión Federal de Electricidad (CFE).

Canadian Solar and CFE have agreed a 15-year Power Purchase Agreement for energy and capacity and 20-year Clean Energy Certificates at approxiamately US$47.95/MWh.

The project is expected to be connected to the grid in September 2018.

“We are delighted to announce this win in Mexico which expands our late stage solar project pipeline in OECD countries, and positions us well for further growth in this important emerging market,” commented Shawn Qu, Canadian Solar CEO. “Our ability to win this competitive bid is a testament to our strength as a global tier 1 leader in the solar industry.”

He added: “We look forward to build on our momentum to expand our global presence and help accelerate the adoption of solar energy to mitigate climate change in the region and around the world as we continue to focus on our corporate vision of making a difference to the planet.”