Canadian Solar (CSIQ) announced that its first portfolio of Japan’s feed-in premium, FIP, PV projects began commercial operation on June 1, 2024. The projects that have reached commercial operation include a 1.2 MWp project in Tsukuba City, Ibaraki Prefecture and a 1.9 MWp project in Daisen Town, Tottori Prefecture. Both projects are powered by CS7N-660W bifacial modules. Initially awarded a feed-in tariff through auctions held in 2020, the Company decided to switch the projects from FIT to FIP in response to the rising demand for renewable energy. By entering into a 20-year Power Purchase Agreement, PPA, with the Company, Toyota Tsusho (TM) Corporation secures 100% of the PV power, together with the NFCs, generated by the project. These NFCs will be transferred to Toyota Tsusho, a member of the Toyota Group and an electricity retailer, who will then provide the power and NFCs to its corporate customers.
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