Canadian Solar completed sale of 80.6 MW PV project in Brazil to Global Power Generation

Canadian Solar Inc. sold its interest in the »Guimarania« solar energy project in Brazil to Global Power Generation, subsidiary of Spanish energy group Gas Natural Fenosa. The 80.6 MW project, expandable to 83 MW, is under construction and expected to reach commercial operation in the fourth quarter of 2018. Canadian Solar will supply its high-efficiency »Max Power« modules.
The project, located in the state of Minas Gerais, was awarded a 20-year Power Purchase Agreement in the third Reserve Energy Auction in 2015. Once completed, the project will generate 162,471 MWh per year and contribute towards the country's goal of obtaining 23 percent of its energy from renewable sources by 2030.
»Guimarania« is Canadian Solar’s fourth project, the company has developed and sold in Brazil, following the 399 MW »Pirapora« project portfolio. »With the 476 MW of projects awarded in the last two energy auctions, Canadian Solar has developed over 955 MW of solar projects, with long-term PPAs awarded, in the country,« said Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar.

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