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Canadian Solar to develop 8-MW solar project in South Korea

Canadian Solar Inc. acquired exclusive rights to develop its first solar photovoltaic project in South Korea.

The company expects to begin construction on the 8 MW solar facility in early 2019 in Gangwon Province, according to a May 14 release.

"The Korean Government has recently increased its solar capacity installation target to 36.5 GW from 5.7 GW in order to generate 20% of electricity from renewable energy sources by 2030," Canadian Solar Chairman and CEO Shawn Qu said in a release. The company established a Korean branch in 2008.