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Canadian Solar completes 30.4-MWp drop-down in Japan

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Canadian Solar completes 30.4-MWp drop-down in Japan


September 6 (Solar) – Canadian Solar Inc (NASDAQ:CSIQ) has closed the sale of three solar parks in Japan with a combined capacity of 30.4 MWp to the Canadian Solar Infrastructure Fund Inc (TYO:9284), or CSIF.

The infrastructure investment fund, which was created last October, paid JPY 11.5 billion (USD 103m/EUR 88.8m) for the portfolio, which includes the 27.3-MWp Daisen-cho plant in Tottori prefecture, as well as the 2.1-MWp Ena-shi facility and the 1-MWp Takayama-shi system in Gifu prefecture. The three plants became operational in August, September and October 2017, respectively, and are selling their output at the rates of JPY 40 per kWh, JPY 32/kWh and JPY 32/kWh.

CSIF's total capacity has thereby increased to 105.6 MWp from 75.2 MWp.

“Our asset management team is doing an excellent job executing on CSIF's growth strategy in Japan and has quickly crossed the important 100 MWp milestone threshold. We expect there will be additional mutually beneficial asset drop down opportunities with CSIF in the future,” said Shawn Qu, chairman and CEO of Canadian Solar.

(JPY 100 = USD 0.898/EUR 0.773)


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