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    Canadian Solar sells 100-MWp solar plant in Japan

    June 1, 2023 - SeeNews Renewables


      June 1 (Renewables Now) - Canadian Solar Inc (NASDAQ:CSIQ) announced on Wednesday it has finalised the sale of the 100-MWp Azuma Kofuji solar park in Japan's northeastern prefecture of Fukushima to local investors arranged by Mizuho Securities Co Ltd.

      In commercial operation since the third quarter of 2022, Azuma Kofuji generates around 110 GWh of clean energy per year, enough to meet the demand of approximately 31,000 households.

      The solar park sells its output to local utility Tohoku Electric Power Co at JPY 36 (USD 0.26/EUR 0.24) per kWh under Japan's feed-in-tariff (FiT) programme.

      Canadian Solar said the long-term operations and maintenance (O&M) services will still be performed by the local subsidiary of Recurrent Energy.

      The revenue from the transaction should be recognised in the second quarter of 2023, the seller noted.

      (JPY 100.0 = USD 0.716/EUR 0.671)


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