Canadian Solar (CSIQ) Inks 63-MWp PPA in Mexico

August 8, 2016 7:05 AM EDT

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Canadian Solar Inc. (Nasdaq: CSIQ) announced that it has signed a Power Purchase Agreement ("PPA") for the 63MWp solar power plant in Aguascalientes, Mexico with the Federal Electricity Commission (Comision Federal de Electricidad, "CFE"). This project was awarded in April 2016 under the Mexico's First Long Term Electricity Auction and it is expected to generate electricity by September 2018. All the electricity generated will be sold to the CFE under the PPA for a 15-year period and related Clean Energy Certificates for a 20-year period.

Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar commented, "We are pleased to sign the PPA for this solar power project awarded to us earlier this year. We will continue to leverage our global project development and execution capability to continue to expand our global late stage solar project pipeline to meet the growing demand of clean solar energy in Mexico and around the world."

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