Canadian Solar Bags 86 MWp In Japan Solar Auction

Canadian Solar Inc (NASDAQ:CSIQ) won 86 MWp in Japan's 8th solar energy auction, accounting for the largest share of the total capacity auctioned.
The 86 MWp includes three projects in the Tohoku region: an 80 MWp project in Miyagi Prefecture, a 3 MWp project located in Fukushima Prefecture, and a 3 MWp project located in Aomori Prefecture.
The projects will enter into a 20-year power purchase agreement with Tohoku Power Electric Company at a weighted average rate of ¥10.77 ($0.098) per kWh once constructed.
Canadian Solar expects the projects to reach commercial operation between 2024 and 2026.
Price action: CSIQ shares traded higher by 2.20% at $46.50 in the market session on the last check Tuesday.