Canadian Solar announced its agreement for selling its 80 percent stake in a 482.6 MWp portfolio of contracted solar projects in Brazil to Nebras Power Investment Management.
These projects are in advanced stages of development with construction expected to begin in 2019.
Canadian Solar will retain 20 percent stake in the project.
Canadian Solar will supply bi-facial modules, including from its manufacturing facility in Brazil, to the following projects.
Salgueiro Solar Holding: 114.3 MW
Francisco Solar Holding: 114.3 MW
Jaiba Solar Holding: 101.6 MW
Lavras Solar Holding: 152.4 MW
With the latest deal with Nebras Power, Canadian Solar will have sold close to 1GWp of solar projects in Brazil.
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, said Shawn Qu, chairman and chief executive officer of Canadian Solar.