Canadian Solar has signed off on an agreement for the sale of its 80% interest in a 482.6MW portfolio of contracted solar projects in Brazil to Nebras Power Investment.
This PV portfolio is comprised of four installations that are in advanced stages of development, with construction expected to begin in 2019. Canadian Solar will supply the modules for the projects, including materials from its manufacturing facility in Brazil.
The solar portfolio includes the following projects:
- Salgueiro Solar Holding SA: 114.3MW peak
- Francisco Sa Solar Holding SA: 114.3MW peak
- Jaiba Solar Holding SA: 101.6MW peak
- Lavras Solar Holding SA: 152.4MW peak
With this interest sale, Canadian Solar will have successfully sold close to 1GW of high quality solar projects in Brazil. The agreement with Nebras provides Canadian Solar with the retention of the remaining 20% interest in the portfolio.
Shawn Qu, chairman and chief executive officer of Canadian Solar, said: "Canadian Solar and Nebras will jointly manage the execution of the EPC and will bring the projects to completion. Once operational, these solar energy systems will be one of the largest bi-facial solar portfolios in Latin America, highlighting Canadian Solar's technology leadership. We are very pleased to be partnering with Nebras Power and supporting the growth of the solar energy market in Brazil.”