Canadian Solar has acquired a 97.6 MWp solar photovoltaic (PV) project in Cafayate of Salta Province, Argentina.
The Cafayate Project was granted through the second public renewable energy tender in Argentina. It has secured a two-decade power purchase agreement at $56.28/MWh.
Canadian Solar intends to commence construction on the plant in July.
The plant is expected to be linked to the grid by second quarter of 2019. It will produce around 235,777 MWh of power per year. This power will be sold to CAMMESA (Compañía Administradora del Mercado Mayorista Eléctrico).
Canadian Solar chairman and chief executive office Dr. Shawn Qu said: “This project is an important addition to our global late-stage project pipeline, and it represents a milestone of our project development in Argentina, where we see great potential for the growth of solar energy.
“The results of the past renewable energy tenders in the country have proved the competitiveness and reliability of solar. We will develop more quality projects in Argentina to meet the growing demand for clean and reliable solar energy in the country.”

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By GlobalDataEarlier this year, Canadian Solar received the engineering, procurement, and construction contract for the completion of the Oakey 2 Solar Farm in Queensland, Australia.
In addition, the company will provide operations and maintenance services for the initial two years following the completion of the project.
Furthermore, the Australian government-owned bank Clean Energy Finance Corporation (CEFC) agreed for a facility commitment for the Oakey 2 Solar Farm.
Set up in 2001, Canadian Solar is a manufacturer of solar photovoltaic modules. So far, Canadian Solar has delivered over 26GW of modules to over 100 countries.