- Canadian Solar has signed a series of PPA to provide solar power to BTG Pactual and the power firm Furnas.
- These projects will begin operations from 2022 and will bring Canadian Solar’s Brazilian solar PPA portfolio to over 2.2GW.
The Chinese-Canadian solar manufacturer, Canadian Solar has signed a 12-year power purchase agreement (PPA) with Latin America’s largest investment bank BTG Pactual. Under the agreement, Candian Solar will build power projects with a totalled capacity of 170MW in Minas Gerais State which will supply the power. Construction of these facilities will begin in 2021 with completion scheduled for 2022.
Canadian Solar has also secured a 15-year PPA to provide the power firm Furnas electricity from two projects. The projects will be cited at two different states, Ceará and Piuaí and will have capacities of 260 MW and 432 MW respectively. Construction on these plants will begin in 2022 with their operation slated for late 2023.
Canadian Solar’s PV module factory is located near Sao Paulo with an annual production capacity of 380MW. Brazil’s BNDES development bank and Banco do Nordeste provides financing for projects that feature made-in-Brazil components.
According to the solar manufacturer, these new projects will bring its Brazilian solar PPA portfolio to over 2.2 GW.