Canadian Solar announced the sale of its interest in the Guimarania solar energy project in Brazil to Global Power Generation, subsidiary of Spanish energy group Gas Natural Fenosa.
Guimarania project is the fourth project Canadian Solar has developed and sold in Brazil.
The 80.6 MWp project, expandable to 83 MWp, is under construction and expected to reach commercial operation in the fourth quarter of 2018.
Canadian Solar will supply its high-efficiency “MaxPower” modules for the Project.
The Project, located in the state of Minas Gerais in Brazil, was awarded a 20-year Power Purchase Agreement in the third Reserve Energy Auction in 2015.
Once completed, the Project will generate 162,471 MWh per year and contribute towards the country’s goal of obtaining 23 percent of its energy from renewable sources by 2030.
“With the 476 MWp of projects awarded in the last two energy auctions, Canadian Solar has developed over 955 MWp of solar projects, with long-term PPAs awarded, in the country,” said Dr. Shawn Qu, chairman and chief executive officer of Canadian Solar.