Canadian Solar announced the acquisition of a 97.6 MWp solar photovoltaic (PV) project in Cafayate, Salta Province, Argentina.
The Cafayate solar power Project was awarded in the second public renewable energy tender in Argentina, receiving a USD denominated 20-year Power Purchase Agreement at $56.28/MWh.
Canadian Solar plans to start construction on the solar power plant in July 2018 targeting to connect to the grid by Q2 of 2019. The solar power plant will generate 235,777 MWh of electricity per year, which will be sold to CAMMESA.
“This project is an important addition to our late-stage project pipeline, and it represents a milestone of our project development in Argentina,” Shawn Qu, chairman and chief executive officer of Canadian Solar.