EDF acquires 80% stake in 115-MW Brazilian solar project

EDF Energies Nouvelles has acquired an 80% interest in the Pirapora II photovoltaic project from Canadian Solar Inc., which is retaining a 20% stake and manufacturing the photovoltaic panels at its local plant.

The 115 MW Pirapora II project holds a 20-year Power Purchase Agreement (PPA), and it is due to be commissioned in the first half of 2018.

The project is located in the south-east region of the country, close to Pirapora I, another PV solar project currently under construction, which is also owned by EDF Energies Nouvelles together with Canadian Solar Inc. As we reported in October 2016, EDF acquired also an 80% interest in the project from Canadian Solar.

With a total installed capacity of over 300 MW, the solar energy generated by both projects will cover the annual electricity consumption of 323,000 Brazilian homes.

Antoine Cahuzac, EDF Group’s Senior Executive Vice President, Renewable Energies and CEO of EDF Energies Nouvelles commented:

“These future facilities demonstrate EDF Group’s strong growth ambitions in Brazil. With a considerable natural resources and growing energy needs, Bresil represents a strategically important market for the EDF Group, which is aimed at doubling its renewable energy capacity in France and worldwide by 2030 under its CAP 2030 company plan.”

This marks the latest step in EDF Energies Nouvelles ongoing development in Brazil’s renewable energy sector. With the addition of this new project to be built, it now has a portfolio of 489 MW under construction, consisting of 183 MW in wind power and 306 MWp in solar power.