Canadian Solar announced that it has been awarded 86 MWp in Japan’s 8th solar energy auction, accounting for the largest share of the total capacity auctioned.
The total of 86 MWp includes three projects located in the Tohoku region: an 80 MWp project in Miyagi Prefecture, a 3 MWp project located in Fukushima Prefecture and a 3 MWp project located in Aomori Prefecture.
Canadian Solar said these projects will enter into a 20-year power purchase agreement with Tohoku Power Electric Company at a weighted average rate of ¥10.77 ($0.098) per kWh. Canadian Solar expects the projects to reach commercial operation between the years of 2024 and 2026.
Canadian Solar has the largest cumulative market share in Japan’s feed-in-tariff (FIT) auction program since its launch in 2017. Canadian Solar has participated and won projects in every Japanese FIT auction. Canadian Solar has executed on over 45 projects across the country and is currently in the process of executing on nearly 30 projects to be delivered over the next 3-5 years.
“The 80 MWp project in Miyagi will become the second largest project we have developed in this market and will add to our existing portfolio of more than 450 MWp of utility-scale projects that are operational or under construction,” said Shawn Qu, Chairman and CEO of Canadian Solar.