Canadian Solar, a vertically-integrated manufacturer of silicon ingots, wafers and PV cells and modules, and the Solar
Energy Corporation of India (SECI) have signed power purchase agreement (PPA)
for solar projects aggregating 80 MW in the state of Maharashtra. The PPA will
be in force for a period of 25 years.
Mercom has previously
reported that Canadian Solar won bids to develop 80 MW of solar in Maharashtra
at a fixed tariff of Rs.4.43 (~$0.066)/kWh and a viability gap funding (VGF) of
Rs.1.999 million (~$0.030 million)/MW.
projects are scheduled to be commissioned towards the end of 2017, stated
the company. "We are pleased to secure our first 80 MW of solar power
projects with SECI. This investment adds to our India pipeline that stands at
110 MW 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.