Canadian Solar Inc. (the “Company”, or “Canadian Solar”) (NASDAQ: CSIQ), one of the world’s largest solar power companies, today announced that it has won 3 solar photovoltaic (PV) projects totaling 110 megawatts (MWp) in Pirapora, in the state of Minas Gerais, Brazil. Canadian Solar will develop and build the solar power plants. Once connectd to the grid, the electricity genereated will be sold to CCEE (Camara de Comercializacao de Energia Eletrica), under a 20-year Power Purchase Agreement at R$300/MWh (approximately US$78.8/MWh). The three projects are targeted to reach commercial operation by late 2018.
“We are very excited to announce another win in Brazil, that increases our pipeline to 384MWp in this important emerging market,” commented Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar. “It is another testament of our strong capabilities in developing global solar power projects and further strengthens our position as a tier 1 global player in the solar energy business.”
Founded in 2001 in Canada, Canadian Solar is one of the world’s largest and foremost solar power companies. As a leading manufacturer of solar photovoltaic modules and a provider of solar energy solutions, Canadian Solar has a geographically diversified pipeline of utility-scale power projects. In the past 14 years, Canadian Solar has successfully deployed over 12 GW of premium quality modules in over 70 countries around the world. Furthermore, Canadian Solar is one of the most bankable companies in the solar industry, having been publically listed on NASDAQ since 2006.