wiredInUSA April 2017

New production in Egypt

Securing sales

Canadian Solar Inc has secured power purchase agreements for an aggregate 80MW AC of solar power projects with the Solar Energy Corporation of India (SECI), a public sector undertaking of the government of India. Canadian Solar was awarded these projects under a 450MW solar capacity tender in the state of Maharashtra, through a competitive auction process. The projects are scheduled to begin operations by late 2017 and will generate solar electricity for SECI for the next 25 years. “We are pleased to secure our first 80MW AC of solar power projects with SECI, a bankable and reputable off-taker operating under the government of India. This investment adds to our India pipeline that stands at 110MW AC and represents a significant milestone for Canadian Solar in one of world’s fastest growing renewables markets,” commented Dr Shawn Qu, chairman and chief executive officer of Canadian Solar.

Egypt’s minister of communications and information technology, Yasser Elkady, has held talks with Yangtze Optical Fibre and Cable Joint Stock Limited Company (YOFC) regarding the final steps for establishing production of optical fiber cables. telecommunication infrastructure, and of responding to the current increase in domestic demand for optical fiber cables. YOFC Group (a partner of Huawei Global) is believed to own the largest world market share of optical fiber cables, and is one of China’s largest investment entities. YOFC is to choose one of Egypt’s technological zones for its new plant because of the Egyptian administration’s willingness and desire to develop and grow the country’s mature telecommunications sector. The Information Technology Industry Development Agency (ITIDA) has held a series of intensive meetings with YOFC to discuss the technical requirements of the plant, and to advise on the appropriate location of the plant in a new technological zone. Elkady stressed the importance of developing

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wiredInUSA - April 2017