Canadian Solar announced the signing of two 10-year power purchase agreements (PPA) with Axpo Italia for the purchase of 70 percent of energy produced by two solar power plants under development totaling 84 MWp.
Axpo Italia is one of the largest market operators in the free energy market in Italy.
The two solar projects of 33 MWp and 51 MWp are located in the central Lazian city of Viterbo, and the western Sicilian city of Trapani, respectively.
Canadian Solar is developing both projects, aiming to start construction before 2023. Axpo Italia will buy the projects’ clean solar electricity after they reach commercial operation in January 2024. The projects are expected to generate approximately 156 GWh of clean energy annually, equivalent to the annual electricity consumption of approximately 61,000 households or displacing 48,500 tons of CO2 emissions.
“We are becoming the largest solar developer in Italy based on contracted volume,” said Shawn Qu, Chairman and CEO of Canadian Solar. “The growth of renewable energy in Italy is critical to achieving the country’s decarbonization and energy security objectives.”
“We boast of an international experience in this sector and we are particularly pleased that the Italian market is starting to perceive its centrality as well,” Simone Demarchi, CEO of Axpo Italia said. “PPAs represent one of the best tools to promote the construction of new clean energy plants and put them at the heart of ambitious goals and strategies to achieve decarbonization.”