Canadian Solar has started the commercial operation of the 100 MWp Azuma Kofuji solar photovoltaic project located in the Fukushima Prefecture, Japan.
The solar project is powered with Canadian Solar high-efficiency HiKu modules and the energy generated is being purchased by the Tohoku Electric Power Company at the rate of JPY36 (U$0.26) per kWh under Japan's feed-in-tariff program for over 18 years. Canadian Solar's local subsidiary will perform the long-term operations and maintenance of the power plant.
The project was financed by Nomura Capital Investment Co., Ltd. with a construction debt of JPY 24.5 billion (~US$175 million), which received an Asset Triple A deal award under the Renewable Energy Deal of the Year Category. The project is expected to participate in the Climate Bonds green certification process which is compatible with the new European Union Green Bond Standard.
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