Canadian Solar entered right into a 20-year energy buy settlement (PPA) with Toyota Tsusho in Japan.
Under the phrases of the settlement, Toyota Tsusho will safe 100% of the ability generated by Canadian Solar’s first feed-in premium (FIP) photo voltaic mission within the nation.
The tasks are a 1.2 MW facility in Tsukuba City, Ibaraki Prefecture, on the nation’s east coast and a 1.9 MW mission in Daisen Town, Tottori Prefecture, situated within the southwest. Both tasks are powered by Canadian Solar’s CS7N-660W bifacial modules.
The tasks had been initially awarded feed-in tariffs (FIT) by way of auctions held in 2020, however Canadian Solar says it has determined to maneuver the tasks to FIP in response to rising demand for renewables. vitality. FIP-awarded tasks may also generate extra income by way of Non-Fossil Certificates, which may even be transferred to Toyota Tsusho below these PPAs.
“Since the launch of our PV improvement enterprise in Japan in 2012, we’ve targeted on FIT, as lots of our buyers choose the secure money circulate supported by authorities applications. Now, companies are more and more demanding clear vitality to energy their companies,” mentioned Ryota Yamada, General Manager of Canadian Solar’s Japan Energy Group.
Yamada added that on the finish of March, Canadian Solar’s mission improvement in Japan amounted to 240 MW and 1,675 GWh for photo voltaic and vitality storage respectively.
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