Canadian Solar Wins Five Solar Power Projects Totaling 185 MW in Brazil

Canadian Solar in Minas Gerais Brazil

Canadian Solar announced that it has won five solar PV projects in Brazil.  These projects total 185 megawatts and will be built in  Pirapora, in the stateof Minas Gerais, Brazil.  Canadian Solar will be responsible for developing  and building these solar plants.   Once completed they will be connected to the grid will sell the electricity generated to a Brazilian government entity, under a 20-year Power Purchase Agreement atR$298.58/MWh (approximately $84.0 USD/MWh).

“This win in Brazil demonstrates the strength of our global project development capabilities, and positions us well to become a solar energy leader in this important emerging market,” commented Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar. “Brazil has significant solar resources and a large energy market, which provides us with an opportunity to stablish our brand, take market share and deliver good results for our shareholders.”

It is estimated that these five projects commence commercial operations in mid-2017. Canadian Solar is seeking equity partners for these projects and is expecting to be able to sell them profitably if they so choose – something that is becoming more and more important to solar developers.

Tracey Smith About Tracey Smith
Tracey is an accountant and entrepreneur with a passion for nature. This passion is what spurred her interest in renewable energy, and the rest is history as they say. Tracey is a principal in Energy Think Group, the publisher of Solar Thermal Magazine and Tek-Think. She is also the principal at Women's Financial Help Desk. She spends her free time in the outdoors with her horses and dogs. She loves to travel.

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