Canadian Solar's 100MWac Solar Project in Australia Wins Victorian Government Support Agreement

12 Sep 2018

Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ : CSIQ ), one of the world's largest solar power companies, announced that it has been awarded a Victorian government support agreement for its greenfield 100MWac Carwarp Solar Project in Australia. This award guarantees revenue for 100% of the energy produced by the Carwarp Solar Farm for the term of the support agreement. 

The project is located near Mildura, Victoria and will utilize Canadian Solar's high-efficiency bifacial modules with the latest single axis tracking technology. Canadian Solar is a pioneer in commercially deploying high efficiency poly PERC bifacial modules with front-side power output up to 365W, with a nominal bifacial rating of 400W. Canadian Solar's bifacial modules will generate extra power output of up to 30% depending on the GCR and light reflection and have a warranted life of 30 years.

Canadian Solar plans to commence construction of the project in Q1 2019 and achieve commercial operation in Q1 2020. The solar system will generate 267,000 MWh of electricity every year, equivalent to powering approximately 48,000 homes and reducing greenhouse emissions by 288,000 metric tonnes of greenhouse gases. 

As part of Canadian Solar's commitment to local investment, the Carwarp Solar Project incorporates support for the local industry and skills development initiatives, including higher education scholarships and training, industry workshops and development programs, support for the integration of renewable energy technology into farming practices, and partnerships with local community organisations, education providers and local start-up businesses. 

"We are pleased to secure the prestigious award from the Victorian Government for the Carwarp Solar Project," commented Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar."The Victorian Renewable Energy Auction Scheme is a highly competitive tender process and by leveraging our 10-year track record in global project development and execution, we can assist the Victorian Government to reach its renewable energy generation targets."

Canadian Solar | http://www.canadiansolar.com