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Canadian Solar commences operation at 100-MWp solar facility in Argentina

Canadian Solar Inc. started commercial operations at its 100.1-MWp Cafayate solar power project in the province of Salta, Argentina.

The solar project won a $56.28/MWh power purchase agreement with the national wholesale power market administrator and clearing house CAMMESA during the Argentinian government's second renewable public tender. The 20-year, U.S. dollar-indexed agreement is guaranteed by the World Bank, according to an Aug. 5 news release.

Canadian Solar secured a $50 million nonrecourse financing for the Cafayate project from CAF-Banco de Desarrollo de America Latina, Banco Ciudad and BICE in November 2018.