Business
Canadian Solar to sell its 80% interest in a 482.6 MWp contracted Brazilian solar project portfolio to Nebras Power
GUELPH, Ontario and MADRID, April 24, 2019 /PRNewswire/ -- Canadian Solar Inc. ("the Company", "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest
About this update from Canadian Solar Inc.
[{"type":"text","content":"GUELPH, Ontario and MADRID, April 24, 2019 /PRNewswire/ -- Canadian Solar Inc. (\"the Company\", \"Canadian Solar\") (NASDAQ: CSIQ), one of the world's largest solar power companies, announced today the signing of an agreement for the sale of its 80% interest in a 482.6 MWp portfolio of contracted solar projects in Brazil to Nebras Power Investment Management B.V., a Dutch affiliate of Nebras Q.P.S.C. (\"Nebras\"). \nThese projects are in advanced stages of development with construction expected to begin in 2019. Canadian Solar will supply to the projects the high efficiency bi-facial modules, including from its manufacturing facility in Brazil, which is the leading supplier of high quality modules for the growing solar market in the country. \nThe solar portfolio includes the following projects: \nSalgueiro Solar Holding SA: 114.3 MW peak Francisco Sa Solar Holding SA: 114.3 MW peak Jaiba Solar Holding SA: 101.6 MW peak Lavras Solar Holding SA: 152.4 MW peakWith the completion of 80% interest sale of the 482.6 MWp Brazilian portfolio to Nebras Power, Canadian Solar will have successfully sold close to 1GWp of high quality solar projects in Brazil. The agreement with Nebras provides Canadian Solar with the retention of the remaining 20% interest in the portfolio. \n\"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, highlighting Canadian Solar's technology leadership. We are very pleased to be partnering with Nebras Power and supporting the growth of the solar energy market in Brazil.\" said Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar.\nAbout Nebras Power Q.P.S.C.\nNebras Power Q.P.S.C. (\"Nebras\") headquartered in Doha, State of Qatar, is a joint venture of Qatar Electricity and Water Company (\"QEWC\") (60%) and Qatar Holding (\"QH\") (40%). Nebras is a strategic investor in the power and water sectors with a global vision. Its target is a well-balanced investment portfolio in terms of technology mix, markets and greenfield development vs M&A. Nebras is committed to providing safe, sustainable, efficient and environmentally sound energy solutions for future generations.\nAbout Nebras Power Investment Management B.V.\nNe...