Canadian Solar has secured BRL225.2 million (US$52 million) non-recourse project financing from Banco do Nordeste do Brasil S.A. (BNB) for its Lavras solar power projects.
The 152.4 MWp Lavras project will be funded over 21 years across the construction and operation phases of the projects. The inflation-linked debt tied to the National Consumer Price Index (IPCA) will provide improved capital and resource alignment with the Brazilian economy.
Canadian Solar won the Lavras solar project in Brazil's A-4 federal auction in April 2018 with 20-year, inflation-adjusted PPAs awarded at a base price of BRL118/MWh (approximately US$27/MWh) with the Brazilian Electric Power Commercialization Chamber (CCEE). The project is expected to start construction in the second quarter of 2020 and reach commercial operation in 2021.
Country updates
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February 10, 2020
Ceara approves construction of 216.7 MW Bom Lugar Norte PV complex in Ico
The State Environment Council (Coema) has approved the construction of Enerlife's Bom Lugar Norte solar power plant complex. The confirmation indicates that the study and the environmental impact repo...
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January 27, 2020
Eneva secures BRL1bn for the Azulão-Jaguatirica Integrated Project
The Brazilian energy company Eneva, through its subsidiary Azulão Geração de Energia SA, has secured a BRL1 billion (US$210.63 million) bank financing from Banco da Amaz...
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January 27, 2020
BNDES approves BRL95m financing for Nova Guaporé Small Hydroelectric Power Plant
The National Bank for Economic and Social Development (BNDES) has approved the BRL95 million (US$22.72 million) for the Special Purpose Entity (SPE) Nova Guaporé Energética S/A to implem...
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January 21, 2020
Vestas completes first turbine for 101 MW wind park in Serra do Mel
Danish wind turbine maker Vestas Wind Systems has started the construction of the 101 MW wind project in Serra do Mel in Brazil with the first turbine installed. The wind project, develope...
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January 20, 2020
Grupo Interalli starts commercial operation of 9.1 MW PCH Recanto hydropower plant in Tangará da Serra
Grupo Interalli has started operations of the 9.1 MW PCH Recanto hydropower plant in Tangará da Serra, Mato Grosso, Brazil. The BRL42 million (US$10.25 million) PCH Recanto project has receive...
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