Canadian Solar Inc (NASDAQ:CSIQ) announced today that it was awarded 193 MW of battery energy storage system (BESS) projects in Japan's first Long-Term Decarbonization Power Source Auction.
Image by Canadian Solar.
Under the tender rules, Canadian Solar will sign Capacity Reserve Agreements (CRA) with the Organization for Cross-regional Coordination of Transmission Operators (OCCTO). According to the company, its successful projects account for 13.3% of the total awarded capacity in the auction.
All in all, the company was successful with three projects located in Aomori, Fukushima and Yamaguchi prefectures. They will provide capacity over a period of 20 years in exchange for payments offseting fixed storage system costs. Commercial operations are planned to begin in 2027-2028.
A few days back, Japanese renewable power producer Renova Inc said that it was awarded 215 MW in the same auction.
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