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This project is expected to generate approximately 54,000 MWh of clean solar power every year.
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Publicly traded solar PV modules maker Canadian Solar said its 35 MWp commercial and industrial (C&I) solar portfolio in the state of Karnataka, India has reached commercial operation in March 2018.
Further, the company’s 35 MWp solar project is located in Bagalkot district of Karnataka.
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This project is expected to generate approximately 54,000 MWh of clean solar power every year.
Moreover, the project provides clean electricity to off-takers from the education, healthcare, cement, and auto parts industries through 25-year power purchase agreements (PPAs), in-line with the open access regulations of Karnataka.
Simultaneously along with this achievement, the company has completed its financing of Rs 1.0 billion (USD 16.0 million) for the C&I portfolio with Tata Cleantech Capital Ltd.
Speaking on the development, Canadian Solar, Chairman and Chief Executive Officer, Shawn Qu said, “We are delighted to launch our first C&I solar portfolio in India which creates sustainable value for our customers. Local businesses can benefit from clean solar energy while mitigating rising electricity costs.”
“Canadian Solar provides strong development, technical, and financing solutions that assist businesses in their switch to clean renewable energy,” Shawn added.
Recently, the company has expanded its footprints to South Korea by acquiring exclusive rights to develop an 8 MWp solar photovoltaic (PV) project in Gangwon Province.
The company is among the leading manufacturers of solar photovoltaic (PV) modules and provides solar energy solutions. It has a geographically diversified pipeline of utility-scale power projects in various stages of development.
