Canadian Solar Inc. has won three solar photovoltaic projects totaling 114 MW in Vazante, Brazil.
Canadian Solar, in partnership with Brazil-based Solatio, will develop, build and own the solar power plants that will sell the electricity generated to the government's Agencia Nacional de Energia Eletrica under a 20-year power purchase agreement at $86.42/MWh.
‘We entered the utility-scale project development business to differentiate our business model, expand, and stabilize our profit margins over the business cycle,’ says Shawn Qu, chairman and CEO of Canadian Solar. ‘We have since successfully leveraged our experience in Canada to expand our project business in key geographies.’
