Canadian Solar Sells Brazil’s Guimarania Project to Global Power Generation

The project, located in the state of Minas Gerais in Brazil, is under construction and expected to reach commercial operation in the fourth quarter of 2018.

canadian solar

Solar PV modules maker Canadian Solar has sold its interest in the 80.6 MWp Guimarania solar energy project in Brazil to Spanish firm Gas Natural Fenosa’s arm Global Power Generation.

The project, located in the state of Minas Gerais in Brazil, is under construction and expected to reach commercial operation in the fourth quarter of 2018.

Further, the Canada-based solar PV modules manufacturer said it will supply its high-efficiency MaxPower modules for the project.

During 2015, the project awarded a 20-year Power Purchase Agreement (PPA) in the third Reserve Energy Auction.

Moreover, after completion the project is expected to generate 162,471 MWh per year and contribute towards the country’s goal of obtaining 23 percent of its energy from renewable sources by 2030.

Commenting on the transaction, Canadian Solar, Chairman and Chief Executive Officer, Dr. Shawn Qu said, “The sale of the Guimarania project is another demonstration of the strong potential of the solar energy market in Brazil and the continuing success of Canadian Solar in it.”

“This is the fourth project, which we have successfully developed and sold in Brazil, following the 399 MWp Pirapora project portfolio. With the 476 MWp of projects awarded in the last two energy auctions, Canadian Solar has developed over 955 MWp of solar projects, with long-term PPAs awarded, in the country,” Qu added.

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Manu Tayal

Manu Tayal

Manu is an Associate Editor at Saur Energy International where she writes and edits clean & green energy news, featured articles and interview industry veterans with a special focus on solar, wind and financial segments.

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