Canadian Solar signs 300MW solar deal for EMEA region

Canadian Solar signs 300MW solar deal for EMEA region
Published: 2 May 2018 - 5:17 a.m.
By: Baset Asaba

Canadian Solar Inc. has signed an agreement with Global Investment Holdings (GIH) to develop up to 300 MW of solar PV projects in Europe, the Middle East and Africa.

According to a statement released by the Chinese-Canadian solar company, it will provide EPC and O&M services to the projects.

While a spokesperson for Canadian Solar could not disclose any further information, a timeline of three years was mentioned in a comment from Atay Arpaciogullari, CEO of Turkey-based Global Energy, reported PV Magazine.

“Global Investment Holdings is active in renewable energy and energy efficiency investments; currently we have a combined capacity of 75.5MW. Our envisaged cooperation with Canadian Solar is a planned step taken towards increasing our clean energy investments up to 300-400MW in the next three years,” he said.

On March 14, Canadian Solar announced it had completed construction on, and started commercial operation of, its first African solar PV project, a 6 MWp plant in Keetmanshoop, Namibia.

The generated energy is being sold to the Namibia Power Corporation (Proprietary) Ltd under a 25-year renewable energy feed-in-tariff (REFIT) contract, at a rate of NAD1.37 ($0.10) per kWh.

Meanwhile, on March 19, the company announced it had recorded a net income of around $99.6 million for 2017, up sharply from the preceding year, as its full-year PV module shipments jumped by roughly 1.6 GW on the year to 6.8 GW, reported PV Magazine.

For the full year, it expects total PV module shipments to reach between 6.6 GW and 7.1 GW, and revenues of $4.4 billion to $4.6 billion.

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