Canadian Solar Inc. (NASDAQ: CSIQ) announced Aug. 8 that it has signed a Power Purchase Agreement (PPA) for a 63-MWp solar power plant in Aguascalientes, Mexico, with the Federal Electricity Commission (Comision Federal de Electricidad or “CFE”).
This project was awarded in April 2016 under Mexico’s First Long Term Electricity Auction and it is expected to generate electricity by September 2018. All the electricity will be sold to the CFE under the PPA for a 15-year period and related Clean Energy Certificates for a 20-year period.
Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, said: “We are pleased to sign the PPA for this solar power project awarded to us earlier this year. We will continue to leverage our global project development and execution capability to continue to expand our global late stage solar project pipeline to meet the growing demand of clean solar energy in Mexico and around the world.”
Canadian Solar has a geographically diversified pipeline of utility-scale power projects in various stages of development. In the past 14 years, Canadian Solar has successfully delivered over 15 GW of premium quality modules to over 90 countries around the world.