Canadian Solar Inc. announced that it has won 367MWp of solar power projects in Aguascalientes, Hermosillo and Obregón, Mexico.
Canadian Solar will develop and build three projects, totaling 367MWp. Once connected to the grid, the electricity generated will be sold to the Comisión Federal de Electricidad under a 15-year Power Purchase Agreement for Energy and 20-year for Clean Energy Certificates at an average price of US$21/MWh. The projects are expected to be connected to the grid around June 2020.
"We are delighted to win an additional 367MWp of solar projects in Mexico, which expands our late-stage solar project pipeline in the country to 435MWp," commented Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar. "We will continue to develop and deliver more quality solar projects in Mexico, while contributing to the government's goal of increasing electricity generated from clean energy sources to 35 percent by 2024 and 50 percent by 2050."