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Canadian Solar Completes the Sale of 19 MWp Operational Project in Japan
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GUELPH, Ontario, Dec. 16, 2020 /PRNewswire/ Canadian Solar Inc. (the Company , or Canadian Solar ) (NASDAQ: CSIQ), one of the world s largest solar power companies, announced today it completed the sale of Gunma Aramaki, a 19 MWp operational solar power plant in the Yamaguchi Prefecture in Japan for JPY6.8 billion (approximately US$64 million).
Canadian Solar sold its equity stake in the project to several passive investors in Japan and remains the asset manager and provider of operations and maintenance ( O&M ) services under a long-term agreement. Gunma Aramaki reached commercial operation in December 2018 and is powered by Canadian Solar high efficiency modules. The electricity generated is being purchased by Tokyo Electric Power Company at the rate of JPY36 (US$0.35) per kWh for 20 years. ....

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