Canadian Solar Inc. (Gueplph, Ontario) and EDF Energies Nouvelles, (EDF, Paris, France) on October 11th, 2016 announced the sale of 80% interest in Canadian Solar's Pirapora I solar energy project in Brazil to EDF Energies Nouvelles' local subsidiary, EDF EN do Brasil.
The 191.5 MWp PV project is starting construction and expects to reach commercial operation in the third quarter of 2017.
Canadian Solar will supply the modules for the PV project from its new 360 MWp modules factory established in Brazil.
20-year PPA awarded in the second Reserve Energy Auction in 2015
The Project, located in the state of Minas Gerais in Brazil, was awarded a 20-year Power Purchase Agreement (PPA) in the second Reserve Energy Auction in 2015. Once completed, the Project will generate 391,263 MWh of solar power per year, reads the press release.
“The investment by EDF Energies Nouvelles in Canadian Solar's Pirapora I project is a demonstration of the strong potential of the solar energy market in Brazil,” said Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar.
“Pirapora I is one of Canadian Solar's three current projects in the country totaling 394 MWp with awarded long-term PPAs. We plan to grow our project portfolio and support the domestic solar market with our 360 MWp module manufacturing plant.”