Canadian Solar has acquired a 97.6MW photovoltaic (PV) project in Cafayate, Salta Province, Argentina.
The company won the project through the second public renewable energy tender in Argentina (RenovAr 1.5), under a 20-year power purchase agreement (PPA) at $56.28/MWh.
Construction works at the site are expected to begin by July.
The solar plant will be connected to the grid by the second quarter of next year and is expected to generate nearly 235,777MWh of electricity per annum.
Upon completion, electricity generated from the plant will be sold to Compañía Administradora del Mercado Mayorista Eléctrico (CAMMESA).
Canadian Solar chairman and chief executive officer Dr Shawn Qu said: “This project is an important addition to our global late-stage project pipeline, and it represents a milestone of our project development in Argentina, where we see great potential for the growth of solar energy.
“The results of the past renewable energy tenders in the country have proved the competitiveness and reliability of solar. We will develop more quality projects in Argentina to meet the growing demand for clean and reliable solar energy in the country.”
Last month, the Canadian solarpower company also completed construction and began commercial operation of a 6MW PV energy project in Keetmanshoop, Namibia.
For the Keetmanshoop solarpower project, Canadian Solar installed 18,480 CS6U modules, which are expected to generate nearly 14.6GW of clean electricity a year.
Electricity generated through this project will be purchased by Namibia Power under a 25-year renewable energy feed-in-tariff (REFIT) contract.
Established in 2001, Canadian Solar manufactures solar photovoltaic modules and providing solar energy solutions worldwide.