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Canadian Solar wins 367-MW solar projects in Mexico energy auction

Canadian Solar Inc won a pipeline of 367-megawatt-peak solar projects for the cities of Aguascalientes, Hermosillo and Obregón in Mexico's third long-term energy auction held Nov. 15.

The company expects to connect the three projects to the grid around June 2020. Comisión Federal de Electricidad will purchase the energy from the projects under a 15-year power purchase agreement and 20-year for clean energy certificates at US$21 per MWh, according to a Nov. 27 release.

"We are delighted to win an additional 367 MWp of solar projects in Mexico, which expands our late-stage solar project pipeline in the country to 435 MWp," Canadian Solar Chairman and CEO Dr. Shawn Qu said in the release. "We will continue to develop and deliver more quality solar projects in Mexico, while contributing to the government's goal of increasing electricity generated from clean energy sources to 35[%] by 2024 and 50[%] by 2050."

In the auction, Comisión Federal de Electricidad purchased 5,492,575 MWh, 5,952,575 CELs and 593 MW of clean energy, according to the news release.