{"id":432,"date":"2020-02-19T15:12:27","date_gmt":"2020-02-19T06:12:27","guid":{"rendered":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/?p=432"},"modified":"2020-03-16T10:12:17","modified_gmt":"2020-03-16T01:12:17","slug":"canadian-solar-secures-225-2-million-brazilian-reais-financing-for-lavras-project-in-brazil","status":"publish","type":"post","link":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/2020\/432.html","title":{"rendered":"CANADIAN SOLAR SECURES 225.2 MILLION BRAZILIAN REAIS FINANCING FOR LAVRAS PROJECT IN BRAZIL"},"content":{"rendered":"\n
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GUELPH, Ontario<\/location>, Feb. 10, 2020<\/chron> \/PRNewswire\/ — Canadian Solar Inc.<\/org><\/a> (the “Company”, or “Canadian Solar<\/org>“) (NASDAQ: CSIQ), one of the world’s largest solar power companies, today announced it has secured 225.2 million Brazilian reais (US$ 55 million<\/money>) non-recourse project financing from Banco do Nordeste do Brasil S.A.<\/org> (BNB) for its Lavras solar power projects. Since the beginning of 2019, Canadian Solar<\/org> has secured BRL 1,007 million<\/money> (US$ 247 million<\/money>) solar project financing with BNB.<\/p>\n

The 152.4 MWp Lavras project will be funded over 21 years across the construction and operation phases of the projects. The inflation-linked debt tied to the National Consumer Price Index (IPCA<\/org>) will provide improved capital and resource alignment with the Brazilian economy. <\/p>\n

Dr. Shawn Qu<\/person><\/a>, Chairman and CEO of Canadian Solar<\/org> commented, “We are delighted to close our fifth consecutive project financing with BNB. Sustainable public sector commitment for clean and affordable solar energy infrastructure has transformed Brazil<\/location> to be the fastest growing renewable energy market in Latin America<\/location>. As a leader in financing infrastructure projects, BNB’s continuing participation in our solar portfolio promotes confidence in the long-term potential of Brazil’s<\/location> renewable energy sector.”<\/p>\n

The funding from BNB across multiple projects will support Canadian Solar’s<\/org> plan to build one of the largest high efficiency bifacial solar power plants in Latin America<\/location>. These projects will be powered by Canadian Solar<\/org> high efficiency modules, including the BiHiKu<\/span><\/a> modules.<\/p>\n

Canadian Solar<\/org> won the Lavras solar project in Brazil’s<\/location> A-4 federal auction in April 2018<\/chron> with 20-year, inflation-adjusted PPAs awarded at a base price of 118 Brazilian reais\/MWh (approximately US$29<\/money>\/MWh) with the Brazilian Electric Power Commercialization Chamber (CCEE). The project is expected to start construction in the second quarter of 2020 and reach commercial operation in 2021.<\/p>\n

Lavras is part of a 482.6 MWp portfolio whose 80% interest was sold<\/a> to Nebras Power Investment B.V.<\/org>, a Dutch affiliate of Nebras Q.P.S.C (“Nebras”). Lavras’ transfer of shares to Nebras closed in August 2019<\/chron>.<\/p>\n

SOURCE <\/span><\/span>Canadian Solar Inc.<\/p>\n

http:\/\/investors.canadiansolar.com\/news-releases\/news-release-details\/canadian-solar-secures-2252-million-brazilian-reais-financing<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

GUELPH, Ontario, Feb. 10, 2020 \/PRNewswire\/ — Canadian Solar Inc. (the “Company”, or “ […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-432","post","type-post","status-publish","format-standard","hentry","category-releases"],"_links":{"self":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/432","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=432"}],"version-history":[{"count":4,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/432\/revisions"}],"predecessor-version":[{"id":442,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/432\/revisions\/442"}],"wp:attachment":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/media?parent=432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/categories?post=432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/tags?post=432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}