Canada headquartered solar power company Canadian Solar Inc says it has become the 'largest' solar developer in Italy based on contracted volume after it secured Axpo Italia as a customer for 70% of energy produced by 84 MW capacity.
"We are pleased to sign our 2nd and 3rd PPA with our partner Axpo Italia, becoming the largest solar developer in the country based on contracted volume," said Dr. Shawn Qu, Chairman and CEO of Canadian Solar. Previously Axpo Italia entered a 10-year PPA for 12 MW solar from Canadian Solar (see Long Term Solar PPA Signed For 12 MW Capacity In Italy).
This time, the Italian presence of Switzerland's Axpo Group, Axpo Italia has entered into 10-year power purchase agreements (PPA) for 2 solar power plants with 33 MW and 51 MW capacities. While the 33 MW facility is under development in central Lazian city of Viterbo, the 51 MW project is coming up in the western Sicilian city of Trapani.
Canadian Solar plans to bring the projects online in January 2024 after starting construction by the end of 2022, which is when the PPAs with Axpo Italia will kick into effect. Together the 2 facilities once online are likely to generate 156 GWh of clean energy annually.
Axpo Italia's CEO Simone Demarchi called PPAs as one of the best tools to promote the construction of new clean energy plants with a view to achieving decarbonization. Its parent company back in Switzerland is planning to increase its solar power portfolio to 10 GW by 2030 with 4 GW to be located in Spain, Italy and Poland (see Axpo Aims For 10 GW Solar By 2030).
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