Canadian Solar Completes the Sale of 20 Percent Interest in Pirapora Solar Complex in Brazil

Canadian Solar (NASDAQ:CSIQ) announced that it has completed the sale of its 20 percent interest in the 399 MW Pirapora solar complex in Brazil to Omega Geracao.

As quoted in the press release:

Canadian Solar had previously sold 80% interest in the portfolio to EDF Renewables at construction-ready stage.

“This transaction demonstrates the success of our profitable project development strategy in Brazil,” said Dr Shawn Qu, CEO of Canadian Solar.  “Including the sale of our 81 MWp Guimarania projects in April of this year, we have now developed and sold 480 MWp of solar projects in the country and have a remaining pipeline of 476 MWp of projects with PPAs awarded from the government auctions. We are very pleased to have partnered with such leading renewable energy companies as EDF Renewables and Omega and look forward to future opportunities to work with them as we continue to grow and execute on our project pipeline in Brazil.”

The Pirapora solar complex, located in the state of Minas Gerais, consists of three solar power plants. The 191.5 MWp Pirapora I, 115 MWp Pirapora II and 92.5 MWp Pirapora III reached commercial operation in November 2017, June 2018 and December 2017, respectively. The solar complex is powered by approximately 1,235,000 high efficiency MaxPower CS6U-P modules manufactured in Sao Paulo, Brazil.

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