Canadian Solar, one of the world’s leading solar manufacturers, announced Wednesday that it plans to sell a 80% stake in a 482.6 MW portfolio of contracted solar projects in Brazil to Nebras Power Investment Management, the Dutch affiliate of Qatar-based Nebras Power Q.P.S.C.
Canadian Solar announced the signing of the agreement on Wednesday, which will see the company divest itself of its 80% interest in a 482.6 MW portfolio of solar projects currently in advanced stages of development and with construction expected to begin in 2019. Canadian Solar is still contracted to supply all the projects with its bi-facial solar modules — at least some of which will be manufactured at the company’s Brazilian facility. The solar portfolio includes the following projects:
- the 114.3 MW Salgueiro Solar project
- the 114.3 MW Francisco Sa Solar project
- the 101.6 MW Jaiba Solar project
- the 152.4 MW Lavras Solar project
With this sale, Canadian Solar has now successfully sold close to 1 gigawatt (GW) of Brazilian solar projects.
“Canadian Solar and Nebras will jointly manage the execution of the EPC and will bring the projects to completion,” said Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar. “Once operational, these solar energy systems will be one of the largest bi-facial solar portfolios in Latin America, highlighting Canadian Solar’s technology leadership. We are very pleased to be partnering with Nebras Power and supporting the growth of the solar energy market in Brazil.“