Canadian Solar Signs 256 MW Module Supply Contract for the First Two Largest Solar Projects with Private PPAs in South Africa

The 2 photo voltaic initiatives are 126 MWp and 130 MWp respectively in dimension, positioned within the North West Province of South Africa. Each initiatives are developed and can be managed by SOLA Group and its companions. Development started in October 2022, and industrial operation is deliberate for the primary quarter of 2024.

Canadian Photo voltaic Inc. (the “Firm” or “Canadian Photo voltaic”) (NASDAQ: CSIQ) right this moment introduced that its majority-owned subsidiary CSI Photo voltaic Co., Ltd. (“CSI Photo voltaic”) signed a 256 MW photo voltaic module contract with SOLA Grupo, an unbiased electrical energy producer based mostly in Cape City. The 256 MWs will provide the primary two largest utility-scale solar energy initiatives in South Africa, based mostly on personal energy buy agreements (PPAs).

The 2 photo voltaic initiatives are 126 MWp and 130 MWp respectively in dimension, positioned within the North West Province of South Africa. Each initiatives are developed and can be managed by SOLA Group and its companions. Development started in October 2022, and industrial operation is deliberate for the primary quarter of 2024.

Canadian Photo voltaic will provide a complete of 390,073 BiHiKu7 modules. BiHiKu7 CS7N-MB-AG are bifacial modules based mostly on 210mm wafers, and have an influence output of as much as 670W and an effectivity of as much as 21.6%. The BiHiKu7 modules are excellent for utility-scale initiatives, with large financial savings in mounting construction and cables on the system stage and decreasing the price of BoS (Steadiness of System) and LCOE (Levelized Price of Power) in comparison with modules which are extra small wafer dimension. BiHiKu7 modules are additionally suitable with most inverters and trackers.

These two solar energy initiatives cowl roughly 430ha. As soon as operational, it’s estimated that they are going to generate roughly 580 GWh of unpolluted, renewable electrical energy per 12 months, equal to powering 40,000 properties and decreasing 595 tons of CO2 emissions per 12 months.

Dom Wills, CEO of SOLA Group commented, “These are the primary photo voltaic initiatives of this scale in South Africa based mostly on personal energy buy agreements. Additionally it is an enormous plus for the nation that these initiatives 100% South African owned, financed, constructed, operated and managed. We hope that the mannequin of personal energy by way of bilateral agreements can be extra broadly adopted. The advantages to the top consumer are competitors, selection and in the end a extra various contribution to the facility system.”

Dr. Shawn Qu, Chairman and CEO of Canadian Photo voltaic commented, “We’re delighted to be working with SOLA Group on these two solar energy initiatives. It is a nice achievement and an necessary step in South Africa’s plan to permit extra versatile electrical energy buying and selling by opening up the grid,” Dr. Qu continued, “I’m happy that our BiHiKu7 modules have been chosen for these initiatives attributable to their excessive product high quality, reliability and LCOE value financial savings. We look ahead to contributing extra to the expansion of renewable power in Africa and around the globe with with our excessive efficiency/worth ratio merchandise.”

SOLA Group is a vertically built-in unbiased energy producer and a frontrunner within the provide of unpolluted power options to non-public corporations in Africa. SOLA’s mission is to rework Africa by way of clear power.

About Canadian Photo voltaic Inc.
Canadian Photo voltaic was based in 2001 in Canada and is among the largest photo voltaic expertise and renewable power corporations on this 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 varied levels of growth. Over the previous 21 years, Canadian Photo voltaic has efficiently provided practically 82 GW of premium high quality, photo voltaic photovoltaic modules to prospects around the globe. Additionally, since getting into the mission growth enterprise in 2010, Canadian Photo voltaic has developed, constructed and linked greater than 7 GWp in additional than 20 nations around the globe. At present, the Firm has roughly 500 MWp of initiatives in operation, 6 GWp of initiatives underneath development or within the backlog (late-stage), and a further 19 GWp of initiatives in superior and early- stage pipeline. Canadian Photo voltaic is among the most bankable corporations 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.