Canadian Solar secures funds from CPDFund for Brazilian projects

Solar PV plant in Brazil

April 3 (Renewables Now) - Canadian Solar Inc (NASDAQ:CSIQ) has raised USD 30 million (EUR 27.8m) in funding from the China-Portuguese Speaking Countries Cooperation and Development Fund (CPDFund) for the development and construction of solar projects in Brazil.

The company said Thursday its Brazilian portfolio contains 1.7 GWp of photovoltaic (PV) projects developed and awarded power purchase agreements (PPAs) in federal and regional energy auctions. Of this capacity, 480 MWp are in operation.

The Macao-based CPDFund was set up in 2013 by the China Development Bank and the Macao Industrial and Commercial Development Fund as a platform to promote investment, trade and cooperation between China and Portuguese-speaking countries, including Brazil.

In 2017, Canadian Solar obtained USD 20 million in funding from the CPDFund to support the development of the 191-MWp Pirapora I solar project in Brazil.

(USD 1.0 = EUR 0.93)

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