Canadian Solar Inc. has sold an 80% interest in its Pirapora I solar energy project in Brazil to EDF Energies Nouvelles’ local subsidiary, EDF EN do Brasil. The 191.5 MW project is starting construction and scheduled to reach commercial operation in the third quarter of 2017. Canadian Solar will supply the modules for the project from its new 360 MW module factory established in Brazil to support the local market.
The project, located in the state of Minas Gerais, was awarded a 20-year power purchase agreement in the second Reserve Energy Auction in 2015. Once completed, the project will generate 391,263 MWh per year and contribute toward the country’s goal of obtaining 23% of its energy from renewable sources by 2030.
“The investment by EDF Energies Nouvelles in Canadian Solar’s Pirapora I project is a demonstration of the strong potential of the solar energy market in Brazil. Pirapora I is one of Canadian Solar’s three current projects in the country totaling 394 MW with awarded long-term PPAs. We plan to grow our project portfolio and support the domestic solar market with our 360 MW module manufacturing plant. We are glad to partner with a strategic investor such as EDF EN in the implementation of our first project in Brazil,” said Dr. Shawn Qu, chairman and CEO of Canadian Solar.
Antoine Cahuzac, CEO of EDF Energies Nouvelles, said this solar project, along with two wind farms under construction, “confirms a strong ambition to strengthen and diversify the EDF Group renewables assets portfolio in Brazil.”