Canadian Solar Subsidiary Recurrent Energy Signs Power Purchase Agreement with a Leading Silicon Valley University

03 Dec 2018

Canadian Solar Inc. (“Canadian Solar”) (NASDAQ: CSIQ), announced its wholly owned subsidiary Recurrent Energy, LLC (“Recurrent Energy”) has signed a 25-year power purchase agreement (“PPA”) for the 63 MWac/88 MWp Stanford Solar Generating Station #2.

The Stanford Solar Generating Station #2, located on over 400 acres in Kings County, California, will power the equivalent of 15,750 homes with clean electricity. This photovoltaic (“PV”) project, together with Stanford University’s existing 67 MWp solar PPA and its 5 MWp rooftop installation, will produce enough clean renewable electricity each year to equal the university’s annual electricity consumption.

“This power purchase agreement with Stanford University demonstrates Recurrent Energy’s ability to work with a diversified customer base in California and across the U.S. We’ve long partnered with different types of load-serving entities, such as investor-owned and publicly-owned utilities, and we’re a known leader for our partnerships with CCAs. Now, we are delighted to also demonstrate our ability to meet the needs of direct access customers,” said Dr. Shawn Qu, chairman and chief executive officer of Canadian Solar. “We feel honored to help Stanford University achieve its goal to source 100 percent of its campus’ electricity from renewable energy.”

As part of Recurrent Energy’s Slate project portfolio, the Stanford Solar Generating Station #2 is scheduled to enter operation in 2021. Canadian Solar announced that another 150 MWac portion of the Slate portfolio has PPAs executed with Silicon Valley Clean Energy and Monterey Bay Community Power.

Recurrent Energy | http://www.recurrentenergy.com

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