Canadian Solar energizes 100 MW solar power plant in Argentina

Canadian Solar Inc. started commercial operation of its 100.1 MW »Cafayate« solar power project in Argentina. According to the company, it is now the largest operational solar power plant in the country. Located in the Province of Salta, the facility is powered by over 289,000 Canadian Solar's high efficiency modules and will generate over 216 GWh of electricity per year. As part of the RenovAR program launched by the Argentinian Government in 2016, the »Cafayate« project was awarded a 20-year power purchase agreement of $56.28/MWh with the national wholesale power market administrator and clearinghouse CAMMESA during the second renewable public tender. This 20-year PPA is guaranteed by the World Bank.
In November 2018, Canadian Solar closed $50 million of non-recourse financing for the »Cafayate« project. The financing package was provided by CAF-Banco de Desarrollo de America Latina, Banco Ciudad and BICE.
»In Latin America, we have been awarded over 1.6 GWp solar power projects across Argentina, Brazil, Mexico and Chile«, said Shawn Qu, Chairman at Canadian Solar.

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