Canadian Solar has signed two private power purchase agreements (PPA) for a total of 274MW of solar photovoltaic capacity in Brazil.
The agreements are with Braskem and COPEL Energia.
For the PPA with Braskem, Canadian Solar will develop and build a 152MW project in the state of Minas Gerais.
Construction will start in 2021 and the facility is expected to start commercial operation before the end of 2022.
The agreement with Braskem, which is the largest producer of thermoplastic resins in the Americas, has a 20-year term.
COPEL Energia, the largest utility in the state of Parana, has signed a 15-year PPA with Canadian Solar, which will build a 122MW project in Pernambuco in 2021.
The project is the second phase of a PV plant already under development by Canadian Solar.
Both projects will use Canadian Solar’s high efficiency bifacial BiHiKu modules.
The two corporate PPAs will add to Canadian Solar’s Brazilian portfolio of more than 1.9GW of contracted PPAs since the company entered the market.
In Latin America the solar developer has over 2.6GW of awarded and contracted PPAs.
Canadian Solar chief executive Shawn Qu said: “Canadian Solar has established a leadership position in the utility scale solar market in Brazil and continues to innovate by setting a new trend yet again with private PPAs.
“We are pleased to partner with Braskem and Copel in this deal to offer integrated energy solutions to our customers, from solar modules to project development and management services.
“We have a long-term commitment to solar energy in Brazil and it will remain one of our most important markets.”