Canadian Solar wins 394 MW of solar in two private auctions in Brazil
Oct 10, 2019 09:07 PM ET
- After emerging as the recipient of most of the Brazilian government’s public allocation of generation capacity, the Canadian-Chinese manufacturer has secured a large share of projects in auctions held by power companies Copel and, probably, Cemig.
Chinese-Canadian PV module maker Canadian Solar has revealed it secured three solar projects with a total generation capacity of 393.7 MW in two private auctions held in Brazil in the last quarter.
Two of the projects, in the states of Pernambuco and Ceará and with 190.5 MW and 76.2 MW capacities, respectively, will sell an unspecified amount of their energy under a 15-year power purchase agreement to the Companhia Paranaense de Energía (Copel), which contracted 127.9 MW of wind and solar capacity in its first renewables auction, held in late September.
Construction of those plants should start in 2021 and finish before 2023. The project in Ceará, Canadian Solar said, is an expansion of the 152.4 MW Lavras facility which is part of a 482 MW portfolio of four assets in which Qatari-owned Nebras acquired an 80% share in April.
Canadian Solar claims to have also secured a 127 MW project in Minas Gerais state but did not disclose the tender organization. It is likely to be Brazilian energy supplier Cemig, which operates mainly in Minas Gerais and which in September held its third clean energy tender, procuring 197 MW of new capacity. Canadian Solar announced a start date of January 2023 for its 127 MW facility, tying in with the requirements of the Cemig tender. “This project will be constructed in the same region and close to other existing projects developed and built by Canadian Solar in Minas Gerais,” the developer added.
The three new project wins, as well as many more recently announced by the company in Brazil, will use BiHiKu bifacial modules made by the Chinese-Canadian manufacturer.
In July, Canadian Solar secured a 51 MW project in the last A-4 auction, offering a final solar electricity price bid of BRL73.60/MWh ($19.60). The Ontario-headquartered company secured just over 1 GW of solar capacity in the renewables auctions held by the Brazilian government.
The manufacturer has a PV module factory near Sao Paulo with an annual production capacity of 380 MW. Solar projects which feature Brazilian-made components can access financing from Brazilian development bank BNDES and the former Banco do Nordeste.
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