Canadian Solar Inc (NASDAQ:CSIQ) said on Monday it has sealed a power purchase agreement (PPA) for its 63-MWp solar power project in Aguascalientes, Mexico.
The company signed the deal with Mexico’s Federal Electricity Commission, also known as Comision Federal de Electricidad (CFE). Under the terms of the agreement, CFE will buy the generated electricity for 15 years and the associated Clean Energy Certificates for a period of 20 years.
As previously announced, the agreed price under the contract is USD 47.95 (EUR 43.27) per MWh.
Canadian Solar was awarded the project in April 2016 under the country’s first long-term electricity auction. The company expects to conclude work on the solar park by September 2018.