{"id":632,"date":"2020-12-09T10:12:39","date_gmt":"2020-12-09T01:12:39","guid":{"rendered":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/?p=632"},"modified":"2020-12-09T10:12:39","modified_gmt":"2020-12-09T01:12:39","slug":"canadian-solar-signs-a-total-of-862-mwp-in-solar-ppa-with-btg-and-auction-with-furnas-in-brazil","status":"publish","type":"post","link":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/2020\/632.html","title":{"rendered":"CANADIAN SOLAR SIGNS A TOTAL OF 862 MWP IN SOLAR PPA WITH BTG AND AUCTION WITH FURNAS IN BRAZIL"},"content":{"rendered":"

GUELPH, ON,\u00a0Nov. 23, 2020\u00a0\/PRNewswire\/ —\u00a0Canadian Solar In<\/span>c.<\/a>\u00a0(the “Company”, or “Canadian Solar”) (NASDAQ: CSIQ), one of the world’s largest solar power companies, announced that it recently signed a power purchase agreement (“PPA”) with BTG Pactual (“BTG”, B3: BPAC11) and that it was awarded with two projects in a private auction by Furnas Centrais El\u00e9tricas (“Furnas”) for a total of 862 MWp in solar power projects in\u00a0Brazil.<\/span><\/p>\n

For the 12-year PPA with BTG,\u00a0Canadian Solar\u00a0will supply solar energy from a 170 MWp cluster of projects located in the\u00a0State of Minas Gerais. The projects will start construction in 2021 and are expected to achieve commercial operation by the end of 2022. BTG is one of the main investment banks in\u00a0Latin America\u00a0and runs one of the largest energy trading businesses in\u00a0Brazil.<\/span><\/p>\n

Furnas will purchase solar energy from two\u00a0Canadian Solar\u00a0projects through a 15-year PPA.\u00a0Canadian Solar\u00a0will develop and build both Furnas projects totalling 692 MWp. One of them, will be located in the\u00a0State of Cear\u00e1\u00a0and will have a capacity of 260 MWp. The second project is located in the State of Piua\u00ed and will have\u00a0a capacity of 432 MWp. Both projects will start construction in 2022 and are expected to reach commercial operation by the end of 2023.<\/span><\/p>\n

Furnas is a majority-controlled subsidiary of\u00a0Centrais El\u00e9tricas Brasileiras S.A. \u2013 Eletrobras\u00a0(“Eletrobras”, NYSE: EBR). Furnas’ business is mainly in energy generation, transmission and sales. It operates in 16 Brazilian states and is the owner of 21 hydro plants, 2 thermal plants, 1 wind farm and 30,000 kilometers of transmission lines.\u00a0<\/span><\/p>\n

Dr.\u00a0Shawn Qu<\/a><\/span>, Chairman and CEO of\u00a0Canadian Solar, commented, “We are pleased to partner with BTG and Furnas to deliver clean solar energy to Brazilian consumers. I am also proud of our team’s great work in expanding our leadership position in the solar project development market in\u00a0Brazil. After the\u00a0274 MWp in corporate PPAs<\/a><\/span>\u00a0that we signed earlier in June, the volume of projects secured in this PPA and auction is the largest in\u00a0Canadian Solar’s\u00a0history,\u00a0and it increases our backlog of solar projects in\u00a0Brazil\u00a0with PPAs (or equivalent) to almost 2.2 GWp.”<\/span><\/span><\/p>\n

“We are also making good progress on our project monetization strategy in\u00a0Brazil, where we are in the process of forming a\u00a0Brazilian Participation Fund for Infrastructure\u00a0projects, or FIP-IE, which is on track to launch in 2021. This will help accelerate our growth in the Brazilian market as we optimize our capital allocation. More updates to come.”<\/span><\/p>\n

All projects will use\u00a0Canadian Solar’s\u00a0latest, high power series 7 bifacial modules of up to 665 Wp<\/a><\/span>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

GUELPH, ON,\u00a0Nov. 23, 2020\u00a0\/PRNewswire\/ —\u00a0Canadian Solar Inc.\u00a0(the “Company”, or “Canad […]<\/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-632","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\/632","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=632"}],"version-history":[{"count":1,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/632\/revisions"}],"predecessor-version":[{"id":633,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/632\/revisions\/633"}],"wp:attachment":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/media?parent=632"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/categories?post=632"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/tags?post=632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}