Canadian Solar awarded 190.5 MWp in Brazil

Solar array. Author: U.S. Department of Agriculture .

November 11 (Renewables Now) - Canadian Solar Inc (NASDAQ:CSIQ) announced today it has won two power purchase agreements (PPAs) for 190.5 MWp of solar capacity in Brazil.

The company was awarded the two solar photovoltaic (PV) projects in the A-6 auction that was held last month. It will sign 20-year PPAs for 30% of those projects' output at an average price of BRL 84.38 per MWh (USD 20.26/EUR 18.35) with a pool of distribution companies. The remaining energy will be purchased under long-term private PPAs that are currently being negotiated, it said.

The 152.4-MWp Gameleira project and the 38.1-MWp Luiz Gonzaga project will be built in the states of Ceara and Pernambuco, respectively. Commercial operation is estimated to take place before January 2023. Once completed, they will be generating a total of 433 GWh of electricity every year.

The particular auction awarded a total of 2,245 MW of clean power supply contracts, of which 530 MW were from solar alone.

(BRL 1 = USD 0.240/EUR 0.218)

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Lucas is based in Brazil. He joined Renewables Now to expand coverage of the Ibero-American market, a highly attractive destination for green energy investment.

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