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Canadian Solar signs two PPA’s for Brazilian projects

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Canadian Solar has signed two private power purchase agreements (PPA) with Braskem and COPEL Energia for a total of 274 MWp in solar power projects in Brazil.

Canadian Solar will develop and construct a 152 MWp project for this PPA in Minas Gerais State, in the same region as other projects already developed and constructed by the company.

Construction will begin in 2021 and is expected to be in full service by the end of 2022.

This is the first PPA directly signed between Canadian Solar and an industrial customer in Brazil.

COPEL Energia is part of COPEL Group, one of Brazil’s top 10 energy trading companies and the largest utility company in the state of Paraná. Canadian Solar will construct a 122 MWp project in the State of Pernambuco in 2021 as the second phase of a project already under development by the company for the 15-year PPA with Copel.

Both projects will utilize the bifacial BiHiKu modules of Canadian Solar. When in operation, the combined projects are estimated to produce approximately 610 GWh of renewable energy annually, equivalent to approximately 250.000 households’ annual electricity usage.

“Canadian Solar has established a leadership position in the utility scale solar market in Brazil and continues to innovate by setting a new trend yet again with private PPAs. We are pleased to partner with Braskem and Copel in this deal to offer integrated energy solutions to our customers, from solar modules to project development and management services. We have a long-term commitment to solar energy in Brazil and it will remain one of our most important markets.”

Dr. Shawn Qu, chairman and CEO of Canadian Solar.
Nedim Husomanovic

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