- Canadian Solar (NASDAQ:CSIQ) says it has started construction on four solar projects in Japan, including the company's flagship 100 MWp Azuma Kofuji project in the Fukushima prefecture, and other projects in Japan totaling 43 MWp.
- Azuma Kofuji, Canadian Solar's largest project in Japan to date, will be powered with the company's HiKu modules and is expected to reach commercial operation in Q1 2023; the energy generated will be purchased by Tohoku Electric Power at the rate of ¥36/kWh ($0.34).
- The project, which is designed to produce enough clean energy to power 31K households, is expected to participate in the Climate Bonds green certification process.
- As part of its plan to decarbonize the U.S. power sector by 2035, the Biden administration recently set a goal to cut the cost of solar energy by 60% over the next decade.