CSI Wins Mexico Project

• Canadian Solar subsidiary Recurrent Energy wins 63 MW project
• The project will be built in the region of Aguascalientes
• Power generated from the project will be sold to regular for $47.95 per MWh
• Recurrent was one of three solar companies aware in the recent Mexican energy auction

Canada based Chinese solar power company, Canadian Solar Inc., (CSI) will develop a 63 MW PV project in Mexico. Announcing its winning of the project on April 4, 2016, CSI will develop the project in Aguascalientes region of Mexico.

Shawn Qu, Chairman and CEO, said, "We are delighted to announce this win in Mexico which expands our late stage solar project pipeline in OECD countries, and positions us well for further growth in this important emerging market."

The company expects the project to become operational in September 2018. According to CSI, the power generated from the project will be bought by the Federal Electricity Commission (CFE), under a 15-year Power Purchase Agreement for energy and capacity and 20-year for Clean Energy Certificates at approximately $47.95 per MWh.

The award was part of an electricity auction in Mexico. While seven companies were awarded power contracts, four of the winners were solar companies – and Canadian Solar's project subsidiary Recurrent Energy was one of the them; the others were Alten Energia, Enel Green Power and SunPower (see article Solar Wins Big)