Canadian Solar announces 63-MW project, power contract in Mexico

Canadian Solar (NASDAQ:CSIQ) said April 4 that it will build and operate a 63-MW solar power project in Aguascalientes, Mexico, which is expected to commence commercial operation in September 2018.

Once connected to the grid, the electricity generated will be sold to CFE (Comisión Federal de Electricidad), under a 15-year power purchase agreement for energy and capacity and 20-year for Clean Energy Certificates at approximately U.S. $47.95/MWh.

A Canadian Solar affiliate, Recurrent Energy, is currently developing the 100-MW RE Astoria solar project in California.

Founded in 2001 in Canada, Canadian Solar is one of the world’s largest and foremost solar power companies. In the past 14 years, Canadian Solar has successfully deployed over 13 GW of premium quality modules in over 90 countries around the world.

Another solar company SunPower (NASDAQ:SPWR) announced April 1 that it has been awarded various power purchase agreements with CFE, Mexico’s state-owned electric utility.

About Wayne Barber 4201 Articles
Wayne Barber, Chief Analyst for the GenerationHub, has been covering power generation, energy and natural resources issues at national publications for more than 20 years. Prior to joining PennWell he was editor of Generation Markets Week at SNL Financial for nine years. He has also worked as a business journalist at both McGraw-Hill and Financial Times Energy. Wayne also worked as a newspaper reporter for several years. During his career has visited nuclear reactors and coal mines as well as coal and natural gas power plants. Wayne can be reached at wayneb@pennwell.com.