Canadian Solar Wins 114 MW of Solar Power Projects In Brazil

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Canadian Solar Wins 114 MW of Solar Power Projects In Brazil

Canadian Solar Inc. recently announced that it has won 3 solar photovoltaic (PV) projects totaling 114 megawatts (MW) In Vazante, in the state in Minas Gerais in Brazil. Canadian Solar, in partnership with Solatio, will develop, build and own the solar power plants which, once connected to the grid, will sell the electricity generated to the Agencia Nacional de Energia Eletrica, a Brazilian government entity, under a 20-year Power Purchase Agreement at R$216.12/MWh ($86.42/MWh).

Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, said:

"We entered the utility scale project development business to differentiate our business model, expand and stabilize our profit margins over the business cycle. We have since successfully leveraged our experience in Canada to expand our project business in key geographies. This win in Brazil is a testament to the strength of our project development capabilities, and positions us well to participate in the growth in demand for solar energy across the globe."

Pedro Vaquer, Solatio partner, said:

"We are convinced that in order to be successful in such a demanding market as the energy sector in Brazil, it is absolutely mandatory to have profound local knowledge of the industry and the country as well as high-quality project developments, concepts on which Solatio has based its work from the very beginning in Brazil.

Antonio Rodriguez, Solatio partner, added:

"Undoubtedly, a collaboration agreement with a sound international player as Canadian Solar translates into the perfect combination for the success of our projects."

Solatio has pioneered PV project development in Brazil for years when PV technology was still unknown in the country, having applied strong efforts aimed at transferring know-how to the Brazilian society at all levels, hence favouring PV project development leadership for Solatio.

Founded in 2001 in Ontario, Canada, Canadian Solar is one of the world's largest and foremost solar power companies. The company is a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions.

List of country news

Country news

  • November 14, 2014

    ACS’s Cobra wins solar projects in Brazil

    Cobra and Lintran, two subsidiaries of the Spanish infrastructure group ACS, have won licenses to develop and operate nine solar power plants in Sao Paulo, Brazil. Read more
  • November 25, 2014

    Brookfield Renewable to acquire 488 MW renewable portfolio In Brazil

    Brookfield Renewable Energy Partners L.P. announced last week an agreement to acquire a 488 MW multi-technology renewable portfolio in Brazil from Energisa S.A. Read more
  • November 26, 2014

    Sunedison and Renova Energia create a JV to develop 1 GW of utility scale solar in Brazil

    SunEdison, Inc., a leading global solar technology manufacturer and provider of solar energy services, and Renova Energia S.A., the largest renewable energy company in Brazil, have created an exclusive joint venture to develop, own, and operate 1 gigawatt of utility scale solar photovoltaic (PV) energy. Read more
  • December 08, 2014

    Enel Green Power awarded wind contract in Bahia

    Following the A-5 Brazilian public auction, Enel Green Power has been awarded the right to sign 20-year power supply contracts with a pool of Brazilian electricity distribution companies with power produced by a new 114 MW wind project. Read more
  • December 12, 2014

    ENEVA announces changes in its management structure

    ?ENEVA has announced that, considering the resignations of the officers Fabio Bicudo and Frank Possmeier, the Board of Directors of the company approved changes in the company management structure. Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.