Canadian Solar in Deal to Build Its Biggest Power Plant in Japanby
Kyushu plant to be complete in 2017 with 47-megawatt capacity
Output will be sold to Kyushu Electric for 30 cents/kwh
Canadian Solar Inc., the third-biggest solar-panel producer, agreed to build its largest power plant in Japan.
The 47-megawatt Mashiki project has a 20-year contract to supply power to Kyushu Electric Power Co. for 36 yen (30 U.S. cents) a kilowatt-hour, Guelph, Ontario-based Canadian Solar said in a statement Monday.
The project on the island of Kyushu is scheduled to begin commercial operations in the first quarter of 2017. Japan is expected to install 12.7 gigawatts of solar panels this year, up 23 percent from in 2014, making it the biggest market for photovoltaic power after China, according to Bloomberg New Energy Finance.
Trina Solar Ltd. and Yingli Green Energy Holding Co. are the biggest panel companies, based on 2014 shipments.