Canadian Solar wins 393.7 MWp of solar projects in Brazil

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

October 10 (Renewables Now) - Canadian Solar Inc (NASDAQ:CSIQ) said today it has won 393.7 MWp of Brazilian solar photovoltaic (PV) projects in two private corporate auctions held in the third quarter of 2019.

The company expects to break ground in 2021 on a 190.5-MWp PV park in Pernambuco state and another of 76.2 MWp in Ceara. Commercial operations are targeted before the end of 2022. These two plants will be generating approximately 598 GWh of electricity annually.

Canadian Solar will also build a solar farm of 127 MWp in Minas Gerais, expected to reach commercial operation before January 2023. When up and running, this PV park will be producing some 280 GWh of electricity per year.

Brazilian power utility Copel (BVMF:CPLE6) will most of the power generated by the projects in Northeastern Brazil under 15-year power purchase agreements (PPAs). Minas Gerais' output will be sold to one of the largest electric utilities in the country under a separate long-term PPA.

All the solar farms will use Canadian Solar's high efficiency bifacial BiHiKu modules.

Canadian Solar now has more than 2 GWp of awarded and contracted PPAs in Latin America.

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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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