Canadian Solar Signed Two Corporate PPAs for 274 MWp Solar Power Projects in Brazil

Jun 25, 2020 12:38 PM ET
  • Canadian Solar Inc. told SolarDaily that it recently authorized 2 private power acquisition contracts (" PPA") with Braskem S.A. as well as COPEL Energia for a total amount of 274 MWp in solar power projects in Brazil.
Canadian Solar Signed Two Corporate PPAs for 274 MWp Solar Power Projects in Brazil

Braskem S.A. is the biggest manufacturer of thermoplastic materials in the Americas as well as the biggest producer of polypropylene in the United States. Braskem is devoted to a low carbon economic situation and has executed innovative processes to enhance its efficiency, competition and sustainability. Braskem will purchase solar energy with a 20-year PPA with Canadian Solar, as it aims to reach its sustainability objectives.

For this PPA, Canadian Solar will certainly create and build a 152 MWp project in the State of Minas Gerais, in the exact same region as other projects currently created as well as built by the Company. Construction will begin in 2021 and also anticipated to reach business procedure before completion of 2022. This is the first PPA authorized directly between Canadian Solar as well as a commercial client in Brazil and also sets another spots for Canadian Solar in this market.

COPEL Energia (" Copel") is part of COPEL Group, among the top 10 energy trading firms in Brazil and also the largest energy in the State of Parana. For the 15-year PPA with Copel, Canadian Solar will develop a 122 MWp project in the State of Pernambuco in 2021 as the second stage of a project currently under development by the Company.

Both projects will use Canadian Solar's high efficiency bifacial BiHiKu modules. Once in operation, the mixed projects are anticipated to create about 610 GWh of clean energy every year, equivalent to the yearly electrical energy usage of about 250,000 households.

These two corporate PPAs will certainly add to Canadian Solar's Brazilian portfolio of more than 1.9 GWp of gotten PPAs considering that the firm entered this market. In the Latin America region, the Company has over 2.6 GWp of granted as well as gotten PPAs.

Dr. Shawn Qu, Chairman as well as Chief Executive Officer of Canadian Solar, commented, "Canadian Solar has established a management placement in the energy scale solar market in Brazil and continues to innovate by setting a new trend yet once more with exclusive PPAs.

" We delight in to partner with Braskem and also Copel in this bargain to use integrated power options to our customers, from solar modules to predict advancement as well as management solutions. We have a lasting dedication to solar power in Brazil and also it will continue to be one of our crucial markets."

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