Canada-based solar power company Canadian Solar has been selected to build three solar photovoltaic (PV) projects with a total capacity of 393.7MW in two recent private corporate auctions held in Brazil. Canadian Solar will develop two solar projects, one in the State of Pernambuco with 190.5MW capacity and the other in the State of Ceará with 76.2MW. The second project is an expansion of the Project Lavras, which is being developed by Canadian Solar.
Construction is expected to begin in 2021 and be completed by the end of 2022. Once operational, the two projects could cumulatively generate 598GWh of clean electricity annually. Major portion of the electricity generated will be sold to COPEL Energia under 15-year power purchase agreements (PPAs). COPEL Energia is part of COPEL Group, one of the top energy trading companies in Brazil. The third project is a 127MW solar plant to be located in the State of Minas Gerais, southeast of Brazil.
The project is expected to reach commercial operation before January 2023. Once operational, the third solar project is expected to generate 280GWh of clean energy annually. Most of the power generated from the solar plant will be sold under a long-term PPA to one of the largest electric utilities in the country. The project will be constructed in the same region and close to existing projects developed and built by Canadian Solar in Minas Gerais. 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 six federal energy auctions held to date in Brazil and now winning our first batch of corporate PPAs in this booming market.
“This win demonstrates our long-term commitment to solar energy in Brazil and is the first step to initiate investment in the Brazilian Corporate Power Purchase Agreements market.” Canadian Solar will supply its bifacial BiHiKu modules for the three solar projects. The company said that the corporate PPAs are the first of its kind to be executed by the company in Brazil and will add to its portfolio of more than 1GW of contracted PPAs since its entry into the Brazilian market.
At present, Canadian Solar has more than 2GW of awarded and contracted PPAs in Latin America.