Canadian Solar bags financing to pursue flexible Brazilian solar strategy

Facebook
Twitter
LinkedIn
Reddit
Email
A utility-scale solar project brought forward by Canadian Solar in the US. Image: Canadian Solar.

Canadian Solar has closed a BRL500 million (US$100 million) financing facility to develop a Brazilian solar portfolio claimed to be the country’s largest, while also giving it the option to hold built solar assets for longer.

Canadian Solar has turned to Brazilian banks BTG Pactual and Itaú BBA for the facility, which will be used to fund up to 70% of the module manufacturer’s equity contributions in a subset of the Brazilian portfolio.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

Not ready to commit yet?
  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The financing facility will support the creation of a publicly-listed vehicle for operating projects which the company said would give it more flexibility regarding when to monetise projects moving forward.

“With this facility, we can further leverage our equity contribution to build projects in Brazil and monetize them post-COD at attractive valuation, while maintaining the option to retain meaningful long-term ownership,” Shawn Qu, chairman and CEO at Canadian Solar, said.

The ‘Solar Module Super League’ manufacturer said the financing structure was unique to the local market.

Canadian Solar said it had developed and contracted nearly 3GW of solar projects in Brazil, tapping into federal, regional and private power purchase agreement auctions. Around 480MWp of projects are in operation and have been sold to third parties, a further 483MWp is currently under construction, while 2GW of projects are at other development stages.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.

Read Next

August 28, 2025
Latin America has the potential to unlock billions in clean energy investment if it aligns national policies with global sustainability goals and investor expectations.
August 28, 2025
Venture capital firm Pacific Channel has launched Fund V, which targets 10GW of solar, wind, and energy storage in New Zealand.
August 26, 2025
ABO Energy has closed its first syndicated loan agreement worth €240 million (US$279.8 million) to develop and construct more wind, solar and storage project.
August 26, 2025
Daqo New Energy has posted gross losses of US$81.4 million in Q2 2025, up from losses of US$81.5 million in Q1.
August 26, 2025
Investment in utility-scale solar fell by 19% in the first half of 2025, as global investment in all renewable energy projects grew by 10%.
Premium
August 22, 2025
Radovan Kopecek and Joris Libal examine the technological and economic factors driving PV’s ascendancy, with emphasis on bifacial BC modules.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines