Canadian Solar Inc. announced that its first portfolio of Japan's feed-in premium (FIP) PV projects began commercial operation on June 1, 2024. The projects that have reached commercial operation include a 1.2 MWp project in Tsukuba City, Ibaraki Prefecture and a 1.9 MWp project in Daisen Town, Tottori Prefecture. Both projects are powered by CS7N-660W bifacial modules.

Initially awarded a feed-in tariff (FIT) through auctions held in 2020, the Company decided to switch the projects from FIT to FIP in response to the rising demand for renewable energy. FIP-awarded projects will generate additional revenue through Non-Fossil Certificates (NFCs). By entering into a 20-year Power Purchase Agreement (PPA) with the Company, Toyota Tsusho Corporation ("Toyota Tsusho") secures 100% of the PV power, together with the NFCs, generated by the project.

These NFCs will be transferred to Toyota Tsusho, a member of the Toyota Group and an electricity retailer, who will then provide the power and NFCs to its corporate customers.