Canadian Solar Inc. today announced it has been awarded a 51.1MW solar photovoltaic project in the Sixth Brazilian Federal Energy Auction.
Canadian Solar will develop and build the project located in the State of Minas Gerais. Construction of the solar project will start in early 2021 and it is expected to reach commercial operation before January 2023.
This Brazilian Solar power project will use Canadian Solar's bifacial poly modules. Approximately 130,000 Canadian Solar BiHiKu modules will be installed, and each module output will exceed 400W. Once in operation, the solar power plant will generate approximately 107,748MWh of electricity annually. 50% of the electricity generated will be purchased by two utilities under the two awarded 20-year power purchase agreements, with an average contracted price of 73.60 BRL/MWh, or approximately US$19.37/MWh, and the other 50% will be purchased under a long-term private PPA.
Dr. Shawn Qu, Chairman of Canadian Solar commented, "We are proud to be the only company that has been successful in winning projects in all six federal energy auctions held to date in Brazil. It shows our long-term commitment to solar in Brazil and to initiate the investment in mix-models with revenues coming from both regulated and free markets."