The project, located in Suzuhari City within Hiroshima prefecture, is slated to be operational by 2021. A power purchase agreement will be entered into with Chugoku Power Electric Company at a rate of JPY17.97 ($0.16) per kWh, said Canadian Solar.
The results of the auction, which awarded 141.3 MW worth of projects, were announced at the end of November. At the time, local media reported that the lowest successful bid was roughly 28% lower than the feed-in tariff (FIT) rate of JPY 24 (around US$0.214). According to Canadian Solar today, average prices were JPY 19.6 ($0.18) per kWh.
Japan's Ministry of Economy, Trade and Industry (METI) has announced plans for a second and third auction next July, and in late 2018, respectively.
Popular content
Bloomberg New Energy Finance recently downgraded its 2017 solar PV installation forecasts for Japan, from 6.3 GW to 5.8 GW, as approvals for utility-scale projects are said to be slightly down. It will still be the fourth biggest solar market, behind China, the U.S. and India. Last year, the country installed 9.17 GW.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.