Guelph, Ontario: Canadian Solar Inc. announced November 27 that it had won 367 MWp of solar power projects in Aguascalientes, Hermosillo and Obregón, Mexico in the country’s third Long-term Auction for renewables held on November 15, 2017.
Canadian Solar will develop and build three projects, totaling 367 MWp. Once connected to the grid, the electricity generated will be sold to the Comisión Federal de Electricidad (CFE) under a 15-year Power Purchase Agreement for Energy and 20-year for Clean Energy Certificates at an average price of US$21/MWh. The projects are expected to be connected to the grid around June 2020.
The off-taker CFE purchased 5,492,575 MWh, 5,952,575 CELs, and 593 MW of clean energy in this auction. A total of 46 economic bids were submitted with price declined by 38% than the auction price in 2016. The clean energy projects awarded in this auction have a combined capacity of 2,730 MW. Solar PV was the main contributor, accounting for 55% of the total winning projects.