Canadian Solar has secured power purchase agreements (PPAs)
for an aggregate 80MWac of solar power projects with the Solar Energy
Corporation of India (SECI), a public sector undertaking of the Government of
India.
Canadian Solar was awarded these projects under a 450 MWac
solar capacity tender in the state of Maharashtra, through a competitive
auction process.
These projects are scheduled to commence operations by late
2017 and will generate clean solar electricity for SECI over the next 25 years.
"We are pleased to secure our first 80 MWac of solar
power projects with SECI, a bankable and reputable off-taker operating under
the Government of India.
This investment adds to our India pipeline that stands at
110 MWac and represents a significant milestone for Canadian Solar in one of
world's fastest growing renewables markets," commented Dr. Shawn Qu,
Chairman and Chief Executive Officer of Canadian Solar.
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