Canadian Solar Inc. announced that it has been awarded a 112MWp solar photovoltaic project in the state of Pernambuco, Brazi in the country's A-4 auction that was just held in December. Canadian Solar will develop and build the project. Construction is planned to start in 2020 and the project is expected to reach commercial operation before January 2021.
The 112MWp Salgueiro project has been awarded a 20-year Power Purchase Agreement at 145.44BRL/MWh (approximately US$44/MWh) in the auction. Canadian Solar will supply more than 310,000 PV panels to the project. Once connected to the grid, the plant will generate approximately 255,743MWh of electricity every year.
"Canadian Solar has participated in all federal PV auctions in Brazil, and we are the only company that has been awarded projects in all of them. We have a strong presence in the Latin America region where we have secured PPAs for over 1 GW of projects. We will continue to strengthen our leading position in the region by expanding our quality late-stage project pipelines in Brazil, Chile, Argentina and Mexico," commented Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar Inc.