Canadian Solar Inc. has secured BRL487 million (US$120 million) non-recourse project financing from Banco do Nordeste do Brasil S.A. (BNB) for its Francisco Sa and Jaiba solar power projects. Since the beginning of 2019, Canadian Solar has secured BRL782 million (US$192 million) solar project financing with BNB.
The 114.3 MWp Francisco Sa and 112.4 MWp Jaiba projects will be funded over 23 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 Francisco Sa and Jaiba solar projects 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$29/MWh) with the Brazilian Electric Power Commercialization Chamber (CCEE). The projects are expected to start construction in the fourth quarter of 2019 and reach commercial operation in 2021.
Country updates
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September 04, 2019
Voltalia completes construction of its 2 GW transmission line, plans to anticipate production of its VSM wind projects
Voltalia’s new transmission facility in the Serra Branca cluster has reached physical completion. It will be connected to the grid shortly. The new line is capable of servicing wind farms with...
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September 04, 2019
Renova asks Aneel to keep wind complex sale
Renova Energia SA has submitted a counter-proposal to Brazil state regulator, Aneel, to prevent the termination of the sales contract in connection to the 743 MW Alto Sertao III wind complex. The...
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September 02, 2019
Petrobras signs contract to sell its stake in Belem Bioenergia Brasil
Petrobras has announced that its subsidiary Petrobras Biocombustíveis SA (PBIO) has signed a contract to sell its 50% stake in Belem Bioenergia Brasil (BBB) to Galp Bioenergy BV, which holds...
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August 28, 2019
FinTeix, ENIND Energia to promote solar cogeneration in Brazil
FinTeix Pte. Ltd. has announced the signing of an MOU and the formation of a Joint Venture with ENIND Energia Ltda in Brazil. The partnership will assist in advancing the Brazilian government’s...
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August 28, 2019
Petrobras divests majority stake in BR Distribuidora
The Rio de Janeiro-based energy producer Petrobras has raised BRL8.5 billion (US$2.1 billion) selling shares in BR Distribuidora, reducing its position to 41.25% from 71.25%. Petrobras plans to s...
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