Canadian Solar has commenced operation on its 100MW Azuma Kofuji solar project in Japan, its largest project in the country.
Located in the Fukushima Prefecture, the plant is equipped with Canadian Solar’s HiKu modules over 460 acres, the majority of which was converted from abandoned agricultural land. A power purchase agreement is in place with Tohoku Electric Power Company, with a rate of JPY36 (US$0.26) per Kwh for 18 years.
The project is forecast to generate around 106,000MWh of energy annually. Canadian Solar said that a portion of the installation’s electricity revenues will be shared with Fukushima City, to be reinvested in agricultural projects.
The Azuma Kofuji plant was financed by Nomura Capital Investment Co. with a construction debt of JPY24.5 billion (~US$175 million).