CSI & EDF Partner For 3rd PV Project in Brazil

EDF Energies Nouvelles Buys 80% Stake In 92.5 MW Pirapora III Solar Power Plant Through Local Subsidiary
05:52 PM (Beijing Time) - 11. August 2017

Key Takeaways

  • Canadian Solar is partnering with EDF Energies Nouvelles on third solar PV project in Brazil
  • The 92.5 MW Pirapora III project is now owned by Canadian Solar (20%) and EDF EN do Brasil (80%)
  • This project is likely to be commissioned by Q4/2017 and is expected to generate 188 GWh of solar power annually
  • Once completely operational, all the three projects will account for 400 MW PV capacity

Chinese integrated module maker Canadian Solar Inc. (CSI) has sold a 80% stake in its 92.5 MW Pirapora III solar PV project in Brazil to French company EDF Energies Nouvelles (EDF EN). This is the third project the two companies are partnering on.

EDF EN is participating in the project through its local subsidiary EDF EN do Brasil. Canadian Solar will hold a 20% stake in the project.

Both the companies previously joined hands for two other projects in Brazil – the 115 MW Pirapora II PV project and 191.5 MW Pirapora I solar power plant. The Brazilian Development Bank recently approved its first solar financing package of $163 million for the latter (see 191 MW Brazilian CSI Project Secures Financing).

Construction on the Pirapora III project has already commenced. CSI is supplying modules for this project from its local factory. EDF EN do Brasil will take care of construction and operations of the project, which is scheduled to enter commercial operations in Q4/2017. On completion, the project is expected to generate 188 GWh of clean energy annually.

Once fully operational in 2018, all three projects located at the same place in the state of Minas Gerais will represent 400 MW capacity, which would make the facility the largest solar photovoltaic facility in operation in South America.

We have now partnered with EDF EN on all three of our projects in Brazil that were awarded long-term PPAs, totalling close to 400 MW” said Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar. “We value our strategic partnership with EDF EN and look forward to continuing our successful collaboration on other opportunities in the future, as we expand our quality solar project pipeline globally,” he added.

 

Anu Bhambhani

Anu Bhambhani is the News Editor of TaiyangNews

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Anu Bhambhani