logo
  

Canadian Solar Signs Long-term Power Purchase Agreement With Axpo Italia

Canadian Solar Inc. (CSIQ) Monday said it has signed a long-term power purchase agreement (PPA) with Axpo Italia for the latter to purchase about 12 MWp energy from two solar power plants under development in Sicily, Italy.

As per the deal, Axpo Italia, the third largest operator in the free energy market in Italy, will purchase about 12 MWp energy and their associated guarantees of origin from the two solar plants. The agreement includes a guaranteed fixed electricity price for ten years starting from April 2022 and will provide stable cash flows to the projects.

This PPA, one of the first private PPAs signed in the Italian market, is part of a framework agreement signed between Canadian Solar and Axpo Italia in November 2020 for the execution of up to 300 MWp of similar PPAs in the country.

Construction of the two plants, with an estimated annual production of 22 GWh, will begin by the end of 2021 using Canadian Solar's high-efficiency modules, Canadian Solar said.

"We are honored to work with Axpo with whom we share the same vision on the energy transition, and work together to meet renewable energy goals by utilizing our solar technology and development expertise. Italy is also one of Canadian Solar's key markets in the Europe, Middle East and Africa, or EMEA region, as we execute on a solar pipeline in excess of 1.3 GWp in the country," said Dr. Shawn Qu, Chairman and CEO of Canadian Solar.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Twitter has rolled out the tipping feature called "Tips" for everyone around the globe using the microblogging site with more payment options to choose from, including cryptocurrencies such as Bitcoin. This is a new way for people to receive and show support on Twitter with money. The feature is currently available on iOS and will be available on Android over the coming weeks. Amazon.com has launched weekly Max-Your-Vax Sweepstakes to encourage their employees to get vaccinated against COVID-19. The sweepstakes began on August 6, 2021 and ends on October 21, 2021, with six draws during the sweepstakes period for 18 prizes worth nearly $2 million, including cash prizes, new vehicle or cash and vacation plus 40 hours of Paid Time Off. Target Corp. announced its plans to hire 100,000 seasonal team members at its stores across the country for this holiday shopping season, though fewer than previous years. With this, the company aims to invest in more flexible scheduling, training, pay and benefits for its existing team members. In a statement, the company said it is also offering around 5 million more hours to its existing staff.
Follow RTT