Canadian Solar has completed the sale of its 100 MWp Azuma Kofuji solar project located in Fukushima prefecture, Japan to Mizuho Securities.
Canadian Solar expects to recognize the revenue from the transaction in the second quarter of 2023. Recurrent Energy’s local subsidiary will continue to provide long term operations and maintenance services for the plant after the transaction.
The Azuma Kofuji solar project started commercial operation in Q3 2022. The project is Canadian Solar’s largest project in Japan and Fukushima prefecture’s largest operational solar project to date. The project is powered by Canadian Solar’s HiKu modules. It is selling the clean energy to Tohoku Electric Power Company at JPY36 (US$0.26) per kWh under Japan’s feed-in-tariff program for the remaining tenor of 18 years.