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Canadian Solar wins rights to build 364MW solar projects in Brazil

EBR Staff Writer Published 11 April 2018

Canadian Solar has won rights to develop three solar photovoltaic (PV) projects in Brazil with a combined capacity of 364MW in the country’s A-4 auction.

The three solar power plants will be built in the states of Minas Gerais and Ceara.

Canadian Solar, which will develop and construct the solar projects, aims to place them into commercial service by 2022.

The three solar plants are backed by 20-year power purchase agreements with an average price of BRL118.15 ($35.58) per MWh, said the solar power developer.

Upon their commissioning and integration into the grid, the solar projects are expected to generate nearly 706,056MWh of power annually.

The A-4 auction in Brazil succeeded in awarding more than 1GW of renewable energy supply contracts. Out of this, solar power made up 806.6MW from a total of 29 new projects.

Canadian Solar chairman and CEO Shawn Qu said: "We are proud to be the only company that has been successful in winning projects in all of the five Federal Auctions held to date in Brazil.

“Brazil has proven to be an important market for us. Relentless innovations and focuses on driving down cost while improving efficiencies in all aspects have allowed Canadian Solar to deliver a 55.5% reduction in energy prices from the first auction, which accelerated the adoption of solar energy in the country."

Last month, Canadian Solar bagged rights to develop a 97.6MW solar project in neighboring Argentina in the South American country’s second public renewable energy tender. The project to be built in Cafayate in Salta Province is supported by a 20-year power purchase agreement at $56.28/MWh.

Canadian Solar, which intends to break ground on the Cafayate solar plant in July, expects to connect it to the grid by the second quarter of 2019.

Elsewhere in Namibia, the Canada-based solar power company commissioned a 6MW solar plant in Keetmanshoop, which marks its first solar project in Africa in March. Around the same period, Canadian Solar said that it sold three solar projects, with a total of 235MW in California to Korea Electric Power (KEPCO) through its subsidiary Recurrent Energy.

Image: Canadian Solar to add 364MW of new solar capacity in the Brazilian states of Minas Gerais and Ceara. Photo: courtesy of RK008/FreeDigitalPhotos.net.