Canadian Solar Begins Operation of Largest Solar Plant in Argentina

Canadian Solar has announced that its 100.1 MW Cafayate solar power project in Argentina started commercial operation last month

Canadian Solar, one of the world’s largest solar power companies, has announced that its 100.1 MW Cafayate solar power project in Argentina started commercial operation.

Located in the Province of Salta, the solar project is powered by over 289,000 high-efficiency modules and will generate over 216 GWh of electricity per year. The project is now the largest operational solar power plant in the country.

As part of the RenovAR program launched by the Argentinian Government in 2016, the Cafayate project was awarded a 20-year U.S. dollar indexed power purchase agreement (PPA) of USD 56.28/MWh with CAMMESA (the national wholesale power market administrator and clearinghouse) during the second renewable public tender. This 20-year PPA is guaranteed by the World Bank.

Dr. Shawn Qu, chairman at Canadian Solar said that the commissioning of the 100.1 MW Cafayate solar power plant in Argentina, is the firm’s first and the country’s largest solar power plant in operation. It once again underscores the company’s success and leading position in the Latin America region.

“In Latin America, we have been awarded over 1.6 GWp solar power projects across Argentina, Brazil, Mexico and Chile. We continue to foresee a high potential for photovoltaics in Argentina and the whole region and will deliver more solar projects to help the region diversify its energy matrix.”

In November 2018, Canadian Solar closed USD 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 July, we reported that Canadian Solar had been awarded a 51.1 MW solar photovoltaic (PV) project in the Sixth Federal Energy Auction (A-4) held in Brazil on June 28, 2019. 

Canadian Solar will develop and build the project located in the State of Minas Gerais. With the construction of the solar project scheduled to begin in early 2021, and the plant expected to reach commercial operation before January 2023.