Canadian Solar to build 112MWp solar power project in Brazil
Power company Canadian Solar has been selected for a 112MWp solar photovoltaic (PV) project in Salgueiro, Pernambuco state of Brazil.
The company had participated in the country's A-4 auction that was held in December.
In the auction, a 20-year Power Purchase Agreement at 145.44 BRL/MWh (approximately US$44/MWh) has been secured by the company for the Salgueiro project.
As per the agreement, Canadian Solar will supply over 310,000 PV panels to the project, which will generate approximately 255,743MWh of electricity every year when linked to the grid.
Construction of the project is expected to begin in 2020, with commercial operation slated to be reached before January 2021.
Canadian Solar CEO and chairman Dr Shawn Qu said: “Canadian Solar has participated in all federal PV auctions in Brazil, and we are the only company that has been awarded projects in all of them.
We have a strong presence in the Latin America region where we have secured PPAs for over 1 GW of projects. We will continue to strengthen our leading position in the region by expanding our quality late-stage project pipelines in Brazil, Chile, Argentina and Mexico."
Founded in 2001, Canadian Solar manufactures solar photovoltaic modules and provides solar energy solutions.
Having business subsidiaries in 20 countries on six continents, the company has a diversified pipeline of power projects in various development stages.