{"id":1006,"date":"2022-06-21T13:00:34","date_gmt":"2022-06-21T04:00:34","guid":{"rendered":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/?p=1006"},"modified":"2022-08-09T16:05:25","modified_gmt":"2022-08-09T07:05:25","slug":"canadian-solar-secures-136-million-brazilian-reais-financing-for-lavras-ii-project-in-brazi","status":"publish","type":"post","link":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/2022\/1006.html","title":{"rendered":"CANADIAN SOLAR SECURES 136 MILLION BRAZILIAN REAIS FINANCING FOR LAVRAS II PROJECT IN BRAZIL"},"content":{"rendered":"<p><span class=\"legendSpanClass\">GUELPH, ON<\/span>,\u00a0<span class=\"legendSpanClass\">June 15, 2022<\/span>\u00a0\/PRNewswire\/ &#8212;\u00a0<span style=\"color: #993300;\"><a style=\"color: #993300;\" href=\"https:\/\/www.canadiansolar.com\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Canadian Solar Inc.<\/a>\u00a0<\/span>(&#8220;Canadian Solar&#8221; or the &#8220;Company&#8221;) (NASDAQ: CSIQ), today announced it has secured 136 million Brazilian reais (approximately\u00a0US$28 million) non-recourse project financing from Banco do Nordeste do\u00a0Brasil S.A.\u00a0(BNB) to support construction and operation of its 79 MWp Lavras II solar power project in\u00a0Brazil. BNB is the largest regional development bank in\u00a0Latin America, supporting the economy of\u00a0Brazil&#8217;s\u00a0Northeast Region.<\/p>\n<p>&nbsp;<\/p>\n<p>Lavras II is expected to reach commercial operation in the second quarter of 2022 and will be powered by\u00a0Canadian Solar\u00a0high efficiency\u00a0<span style=\"color: #993300;\"><a style=\"color: #993300;\" href=\"https:\/\/www.csisolar.com\/bihiku\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><span id=\"spanHghlt0e1e\">BiHiKu<\/span><\/a><\/span>\u00a0modules.\u00a0Canadian Solar\u00a0won the Lavras II solar project in a private auction held by COPEL Energia, which is part of\u00a0COPEL Group, one of the top 10 energy trading companies in\u00a0Brazil, in\u00a0September 2019, with a 15-year, inflation-adjusted PPA.<\/p>\n<p>&nbsp;<\/p>\n<p>This inflation-linked debt tied to the National Consumer Price Index (IPCA) will provide improved capital and resource alignment with the Brazilian economy.<\/p>\n<p>&nbsp;<\/p>\n<p>Dr.\u00a0Shawn Qu,\u00a0<span id=\"spanHghlt0a44\">Chairman<\/span><span id=\"spanHghltb156\">\u00a0and CEO\u00a0<\/span><span id=\"spanHghlt2a87\">of\u00a0Canadian Solar Inc.,<\/span>\u00a0commented, &#8220;We are pleased to extend our long-standing partnership with BNB. This financing once again demonstrates our capabilities and commitment to the Brazilian market, where we are a market leader with more than 2 GWp of backlog projects that have secured power purchase agreements,&#8221;\u00a0Dr. Qu\u00a0continued, &#8220;Sustainable public sector commitment for clean and affordable solar energy infrastructure has cemented\u00a0Brazil\u00a0as the biggest and fastest growing renewable energy market in\u00a0Latin America. As a leader in financing infrastructure projects, BNB&#8217;s continuing participation in our solar portfolio reinforces our confidence in the long-term potential of\u00a0Brazil&#8217;s\u00a0renewable energy sector.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>GUELPH, ON,\u00a0June 15, 2022\u00a0\/PRNewswire\/ &#8212;\u00a0Canadian Solar Inc.\u00a0(&#8220;Canadian Solar&#8221; or the &#038;#8220 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-1006","post","type-post","status-publish","format-standard","hentry","category-finance"],"_links":{"self":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/1006","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/comments?post=1006"}],"version-history":[{"count":2,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/1006\/revisions"}],"predecessor-version":[{"id":1011,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/1006\/revisions\/1011"}],"wp:attachment":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/media?parent=1006"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/categories?post=1006"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/tags?post=1006"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}