Canadian Solar Inc. ("Canadian Solar", "the Company") (NASDAQ: CSIQ) today announced that its wholly-owned subsidiary Canadian Solar Projects K.K. together with its owned special purpose vehicles (SPVs), topped the ranking of cumulative capacity of solar projects awarded under Japan's feed-in tariff (FIT) auction program since its launch in 2017, according to a latest research published by Clean Tech Lab, Nikkei BP Intelligence Group. Canadian Solar's cumulative successful bids of 180 MWac under the FIT auction program is nearly twice of that of the second ranked.
Canadian Solar entered the Japanese market more than a decade ago in both solar project development and solar module sales. The Company has executed on around 350 MWp solar projects in Japan since 2011 and has a backlog of 345 MWp, including 174 MWp under construction as of January 31, 2022. As one of the most well-known brands in Japan, Canadian Solar has delivered over 5.5 GW of high-quality modules to residential, commercial, and utility-scale customers since 2009.
Dr. Shawn Qu, Chairman and CEO of Canadian Solar commented, "Our number one position in cumulative market share in Japan's FIT auction program demonstrates our competitiveness in that market. I would like to thank our team for their efforts and solid execution. We remain committed to the Japanese solar market, where we foresee a strong PPA demand. We will leverage our expertise and leadership in both project development and solar modules sales to provide more clean and safe renewable energy in Japan."
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Source: Canadian Solar
Date: May 17, 2022
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