Canadian Solar Inc has announced that its 100.1-MWp Cafayate solar farm located in the province of Salta, Argentina, became operational on July 19.
The solar farm consists of more than 289,000 high-efficiency modules made by Canadian Solar. The annual output is estimated at 216 GWh.
The Cafayate Project was awarded a 20-year U.S. dollar indexed power purchase agreement of US$56.28 per MWh with CAMMESA (the national wholesale power market administrator and clearinghouse) during the second renewable public tender, part of the RenovAR program launched by the Argentinian Government in 2016. The 20 years PPA is guaranteed by the World Bank.
In November 2018, Canadian Solar closed US$50 million of non-recourse financing for the Cafayate project. The financing package was provided by CAF-Banco de Desarrollo de America Latina, Banco Ciudad, and BICE.
Country updates
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