Canadian Solar buys  80.6 MWp solar project in Brazil

Canadian Solar Ontario project

Canadian Solar has purchased 80.6 MWp solar photovoltaic (PV) project in Guimarania, in the state of Minas Gerais, Brazil.

Canadian Solar will build the project and provide the solar PV modules from its local factory in Brazil. Canadian Solar will start the construction in early 2018 and reach commercial operation in Q4 2018.

The Guimarania project received a 20-year Power Purchase Agreement from the second Reserve Energy Auction at R$290.00/MWh (approximately US$91.77/MWh).

Once connected to the grid, the solar plant will generate approximately 143,664 MWh of electricity per year, which will be sold to CCEE (Electrical Energy Commercialization Chamber).

“The Guimarania project is an addition to our utility-scale project pipeline in Brazil,” said Shawn Qu, chairman and CEO of Canadian Solar. “We will continue to evaluate additional opportunities in this important emerging market.”