The Azuma Kofuji undertaking is the biggest Canadian Photo voltaic undertaking in Japan and Fukushima Prefecture’s largest operational photo voltaic undertaking to this point.
Canadian Photo voltaic Inc. (the “Firm”, or “Canadian Photo voltaic”) (NASDAQ: CSIQ) introduced right now that its flagship mega-project in Japan, the 100 MWp Azuma Kofuji photo voltaic undertaking positioned in Fukushima Prefecture, has just lately reached industrial operation.
The Azuma Kofuji undertaking is the biggest Canadian Photo voltaic undertaking in Japan and Fukushima Prefecture’s largest operational photo voltaic undertaking to this point. The undertaking is powered by Canadian Photo voltaic excessive effectivity HiKu modules and the power generated is bought by Tohoku Electrical Energy Firm at a fee of JPY36 (U$0.26) per kWh beneath Japan’s feed-in-tariff program for over 18 years. Canadian Photo voltaic’s native subsidiary will deal with the long-term operations and upkeep of the ability plant.
Constructed on 460 hectares, most of which was transformed from deserted agricultural land after utilizing Japan’s newly carried out laws to advertise renewable power energy era, Azuma Kofuji is predicted to provide roughly 106,800 MWh of fresh and dependable power, sufficient to energy roughly 31,000 properties and keep away from greater than 50,000 metric tons of CO2 equal emissions per yr. As well as, the undertaking will donate a portion of the electrical energy gross sales income to Fukushima Metropolis, the funds of which will likely be used to advertise actions within the native agricultural sector.
The undertaking is financed by Nomura Capital Funding Co., Ltd. with development debt of JPY 24.5 billion (roughly U$175 million), which acquired an Asset Triple A deal award beneath the Renewable Vitality Deal of the 12 months Class. The undertaking is predicted to take part within the inexperienced certification technique of Local weather Bonds in accordance with the brand new European Union Inexperienced Bond Customary.
“We’re glad to contribute our half to the restoration of Fukushima Prefecture. Earlier than development works started, the Azuma Kofuji undertaking web site was an deserted, unproductive farm. Our groups labored carefully with the local people and authorities within the land conversion course of and was profitable. Handed the Environmental Affect Evaluation monitored by Fukushima Prefecture. We’re proud to assist revitalize the local people and economic system within the area that was hit laborious by the Nice East Japan Earthquake in 2011. We wish to make sure that native communities are long-term beneficiaries of fresh, renewable power, and we’re proud to take part in rebuilding the financial and power resilience of the Fukushima cities whereas supporting the ambition of carbon neutrality in Japan by 2050. As well as, I’m proud that our workforce is continuous in an period of nice economic system and loss y assurance out there that this helpful undertaking will likely be dropped at an excellent finish,” commented Dr. Shawn Qu, Chairman and CEO of Canadian Photo voltaic.
He added, “These initiatives proceed to develop Canadian Photo voltaic’s sturdy observe document in Japan as we proceed to develop our enterprise in a sustainable and accountable method and contribute to the clear power transition of Japan. We at present have greater than 470 MWp of utility-scale initiatives in operation. or beneath development, and two partnership platforms with the Canadian Photo voltaic Infrastructure Fund (TSE: 9284) and Japan Inexperienced Infrastructure Fund. We’re additionally one of many strongest- on photo voltaic module manufacturers in Japan pushed by our numerous expertise and huge manufacturing scale. additional strengthening Canadian Photo voltaic’s management place as probably the most built-in photo voltaic participant within the Japanese market. We thank our financing accomplice that continues to assist Canadian Photo voltaic with low value capital, permitting us to develop and develop our prime quality portfolio io of the undertaking in Japan.”
About Canadian Photo voltaic Inc.
Canadian Photo voltaic was based in 2001 in Canada and is likely one of the largest photo voltaic expertise and renewable power firms on the planet. It’s a main producer of photo voltaic photovoltaic modules, supplier of photo voltaic power and battery storage options, and developer of utility-scale solar energy and battery storage initiatives with a geographically diversified pipeline in numerous levels of improvement. Over the previous 21 years, Canadian Photo voltaic has efficiently delivered round 76 GW of premium high quality, photo voltaic photovoltaic modules to prospects around the globe. Likewise, since coming into the undertaking improvement enterprise in 2010, Canadian Photo voltaic has developed, constructed and related greater than 6.8 GWp in additional than 20 nations around the globe. At the moment, the Firm has about 311 MWp of photo voltaic initiatives in operation, 5.3 GWp of initiatives beneath development or within the backlog (late-stage), and an extra 21 GWp of pipeline initiatives (mid to an early stage). Canadian Photo voltaic is likely one of the most bankable firms within the photo voltaic and renewable power trade, publicly listed on NASDAQ since 2006. For extra details about the Firm, comply with Canadian Photo voltaic on LinkedIn or go to www. canadiansolar.com.