Canadian Solar Signs PPAs with SECI to Develop 80 MWac Solar Power Projects in India
Canadian Solar Inc. (NASDAQ: CSIQ), one of the world’s largest solar power companies, today announced that it has secured Power Purchase Agreements for an aggregate 80 MWac of solar power projects with the Solar Energy Corporation of India (SECI), a public sector undertaking of the Government of India.
Canadian Solar was awarded these projects under a 450 MWac solar capacity tender in the state of Maharashtra, through a competitive auction process. These projects are scheduled to commence operations by late 2017 and will generate clean solar electricity for SECI over the next 25 years.
“We are pleased to secure our first 80 MWac of solar power projects with SECI, a bankable and reputable off-taker operating under the Government of India. This investment adds to our India pipeline that stands at 110 MWac and represents a significant milestone for Canadian Solar in one of world’s fastest growing renewables markets,” commented Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar.
SOURCE: Street Insider