Canadian Solar to Sell 80% Stake of its 482 MW Portfolio in Brazil

The projects for which the company has sold 80% stakes are presently in advanced stages of development with construction expected to begin in 2019.

China-based Canadian Solar Inc., one of the world’s largest solar power companies, has announced the signing of an agreement for the sale of its 80% interest in a 482.6 MW portfolio of contracted solar projects in Brazil to Nebras Power Investment Management B.V., a Dutch affiliate of Nebras Q.P.S.C.

Nebras Power Q.P.S.C. headquartered in Doha, Qatar, is a joint venture of Qatar Electricity and Water Company and Qatar Holding. A strategic investor in the power and water sectors with a global vision.

The projects for which the company has sold 80% stakes are presently in advanced stages of development with construction expected to begin in 2019. Canadian Solar will supply to the projects the high-efficiency bi-facial modules, a bulk of which will be manufactured in the company’s facility in Brazil, the leading supplier of high-quality modules for the growing solar market in the country. 

The solar portfolio includes the following projects:

Salgueiro Solar Holding SA: 114.3 MW peak

Francisco Sa Solar Holding SA: 114.3 MW peak

Jaiba Solar Holding SA: 101.6 MW peak

Lavras Solar Holding SA: 152.4 MW peak

“Canadian Solar and Nebras will jointly manage the execution of the EPC and will bring the projects to completion. Once operational, these solar energy systems will be one of the largest bi-facial solar portfolios in Latin America, highlighting Canadian Solar’stechnology leadership. We are very pleased to be partnering with Nebras Power and supporting the growth of the solar energy market in Brazil.” said Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar.

With the completion of 80% interest sale of the 482.6 MWp Brazilian portfolio to Nebras Power, Canadian Solar will have successfully sold close to 1 GW of high-quality solar projects in Brazil. The agreement with Nebras provides Canadian Solar with the retention of the remaining 20% interest in the portfolio.