Canadian Solar’s FIP Projects Launch in Japan

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Canadian Solar’s first portfolio of feed-in premium (FIP) PV projects commenced commercial operation on June 1, 2024 in Japan. The portfolio includes a 1.2 MWp project in Tsukuba City, Ibaraki Prefecture, and a 1.9 MWp project in Daisen Town, Tottori Prefecture.

Initially these projects were awarded a feed-in tariff (FIT) through 2020 auctions. The company then switched these projects to FIP to meet the growing demand for renewable energy. Additionally, projects under the FIP will generate additional revenue through Non-Fossil Certificates (NFCs).

Furthermore, Toyota Tsusho Corporation will get 100 per cent of the PV power and NFCs by the project, through a 20-year Power Purchase Agreement (PPA) with the company. These NFCs will be passed on to Toyota Tsusho and an electricity retailer, who will supply the power and NFCs to their corporate clients.

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