Canadian Solar Inc. today announced that it has won 3 solar photovoltaic (PV) projects totaling 110MW in Pirapora, in the state of Minas Gerais, Brazil. Canadian Solar will develop and build the solar power plants. Once connected to the grid, the electricity generated 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 384MW 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."