Canadian Solar Sells 482 MW Portfolio to Nebras Power

Canadian Solar (NASDAQ:CSIQ) announced the sale of its 80 percent in a porfolio of contracted solar projects with a capacity of 482.6 MW to Nebras Power Investment.

As quoted in the release:

These projects are in advanced stages of development with construction expected to begin in 2019. Canadian Solar will supply to the projects the high efficiency bi-facial modules, including from its manufacturing facility in Brazil, which is the leading supplier of high quality modules for the growing solar market in the country.

The solar portfolio includes the following projects:

• Salgueiro Solar Holding SA: 114.3 MW peak
• Francisco Sa Solar Holding SA: 114.3 MW peak
• Jaiba Solar Holding SA: 101.6 MW peak
• Lavras Solar Holding SA: 152.4 MW peak

With the completion of 80% interest sale of the 482.6 MWp Brazilian portfolio to Nebras Power, Canadian Solar will have successfully sold close to 1GWp of high quality solar projects in Brazil. The agreement with Nebras provides Canadian Solar with the retention of the remaining 20% interest in the portfolio.

“Canadian Solar and Nebras will jointly manage the execution of the EPC and will bring the projects to completion. Once operational, these solar energy systems will be one of the largest bi-facial solar portfolios in Latin America, highlighting Canadian Solar’s technology leadership. We are very pleased to be partnering with Nebras Power and supporting the growth of the solar energy market in Brazil.” said Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar.

Click here for the full release.