8.8 C
Berlin

Canadian Solar receives 136 million BRL financing for 79 MW Project in Brazil

Canadian Solar Inc. (NASDAQ: CSIQ), yesterday announced it has secured 136 million Brazilian reais (approximately US$28 million) non-recourse project financing from Banco do Nordeste do Brasil S.A. (BNB) to support construction and operation of its 79 MWp Lavras II solar power project in Brazil.

Canadian-Solar-Reports-42-YoY-Rise-in-Module-Shipments--768x532.jpg

BNB is the largest regional development bank in Latin America, supporting the economy of Brazil's Northeast Region.

Lavras II is expected to reach commercial operation in the second quarter of 2022 and will be powered by Canadian Solar’s high efficiency BiHiKu modules.

Canadian Solar won the Lavras II solar project in a private auction held by COPEL Energia, which is part of COPEL Group, one of the top 10 energy trading companies in Brazil, in September 2019, with a 15-year, inflation-adjusted PPA.

This inflation-linked debt tied to the National Consumer Price Index (IPCA) will provide improved capital and resource alignment with the Brazilian economy.

Dr. Shawn Qu, Chairman and CEO of Canadian Solar Inc., said that they are pleased to extend the long-standing partnership with BNB.

Dr. Qu added that the company is a market leader with more than 2 GWp of backlog projects that have secured power purchase agreements in Brazil. "As a leader in financing infrastructure projects, BNB's continuing participation in our solar portfolio reinforces our confidence in the long-term potential of Brazil's renewable energy sector," Dr. Qu said.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

You Might Also Like

Canadian Solar launches operation for 42 MWp solar portfolio in Japan

Canadian Solar has announced that three of its solar power projects in Japan have begun commercial operation, totaling 42 MWp of capacity. The projects, located...

Antaisolar to supply 187 MW tracking system to Brazilian project

PV mounting and tracking system supplier Antaisolar has secured a contract to supply 187 MW tracking system to a solar project in Brazil, the...

Module shipment ranking 2022: Top 10 manufacturers shipped 240 GW globally

In 2022, the top 10 Chinese manufacturers have shipped over 240 GW modules globally, up 60% and occupying over 90% of global demand, according...

Canadian Solar to start producing TOPCon modules with 25% efficiency

Canadian Solar announced it will start producing high efficiency n-type TOPCon solar modules in the first quarter of 2023. The production will be carried...

Canadian Solar starts operation of its largest solar project in Japan

Canadian Solar Inc. (NASDAQ: CSIQ) announced today that its 100 MWp Azuma Kofuji solar project located in the Fukushima Prefecture in Japan has recently...

LONGi reclaims top spot in shipment ranking for Q1-Q3 2022

LONGi reclaims top spot in shipment ranking for Q1-Q3 2022

Popular Posts

New 330 GW of solar will be installed globally in 2023: CPIA

In 2023, the global newly installed capacity (AC-end) may reach 280-330 GW, including 95-120 GW of domestic installation, said Wang Qing, Deputy Director of...

Longi to set up the first factory in the US

Renewable and clean energy developer Invenergy is ready to cooperate with Longi Green Energy to build a 5 GW solar module factory in Ohio....

Hongrun Construction to add 20 GW cell and module production capacity

Hongrun Construction has announced plans to ramp up its cell and module production capacity by building a high-efficiency solar cell and module manufacturing facility...

N-type TOPCon will take 54% of market share in 2025

The n-type TOPCon technology has shown prominent advantages, and will cover a market share of 25% this year, said Li Bingzhi, Senior Manager of...

Chint will give every piece of module an ‘ID card’

In recent years, with the rapid development of artificial intelligence (AI), industrial Internet, big data and other information technologies, the solar industry has become...

Module shipment ranking 2022: Top 10 manufacturers shipped 240 GW globally

In 2022, the top 10 Chinese manufacturers have shipped over 240 GW modules globally, up 60% and occupying over 90% of global demand, according...
Join Our Newsletter

Latest article

Shuangliang starts building 50 GW of monocrystalline silicon project

The commencement activity of Shuangliang Phase III 50 GW monocrystalline silicon project was held in the Xitu High-tech Zone, Inner Mongolia’s Baotou City on...

Main application, prospect of carbon neutralization technologies

The Ministry of Science and Technology recently organized the first meeting of the National Carbon Neutralization Technology Expert Committee in Beijing to assess the...

N-type TOPCon will take 54% of market share in 2025

The n-type TOPCon technology has shown prominent advantages, and will cover a market share of 25% this year, said Li Bingzhi, Senior Manager of...

New 330 GW of solar will be installed globally in 2023: CPIA

In 2023, the global newly installed capacity (AC-end) may reach 280-330 GW, including 95-120 GW of domestic installation, said Wang Qing, Deputy Director of...

Upcoming Event

Solar Focus | Meet the Surging Solar Power Needs in Spain

On March 30, Solarbe Global will invite experts from S&P Global Commodity Insights, JA Solar and Aquila Capital to discuss the opportunities and challenges in solar PV deployment in Spain.

[Event] 2nd International Integrated-PV Workshop

Based on the highly successful 1st  IPV Workshop in 2022, the 2nd edition will focus on latest innovations that will help shaping this new but fast-growing segment within the solar PV industry. Technologies include Building-integrated PV (BIPV), Floating PV, Agrivoltaics, and Vehicle-integrated PV (VIPV).