New Projects, Renewables, Solar

Canadian Solar Signs PPA for Mexico Solar Energy Project

Canadian Solar Sells 9-MW Project for $47.2 Million

Canadian Solar (NASDAQ: CSIQ) signed a power purchase agreement (PPA) for the output from a solar power project in Mexico.

Canadian Solar signed the PPA for the 63-MWp solar power plant with the Comisión Federal de Electricidad (CFE). The project was awarded in April 2016 under Mexico’s First Long Term Electricity Auction and it is expected to begin generating electricity by September 2018. All of the electricity generated will be sold to the CFE under the PPA for a 15-year period and related Clean Energy Certificates for a 20-year period.

“We are pleased to sign the PPA for this solar power project awarded to us earlier this year,” said Dr. Shawn Qu, chairman and CEO of Canadian Solar. “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.”