Canadian Solar has completed the sale of its 20% interest in the 399MW Pirapora photovoltaic complex in Brazil to local renewables outfit Omega Geracao.
The Canadian company had previously sold an 80% stake in the portfolio to EDF Renewables at the construction-ready stage.
Pirapora is located in the state of Minas Gerais and consists of three solar power plants – 191.5MW Pirapora 1, 115MW Pirapora 2 and 92.5MW Pirapora 3.
The projects reached commercial operation in November 2017, June 2018 and December 2017, respectively.
They comprise 1,235,000 of Canadian Solar’s MaxPower CS6U-P modules manufactured in Sao Paulo.
Canadian Solar chairman and chief executive Shawn Qu said: “This transaction demonstrates the success of our profitable project development strategy in Brazil.
“Including the sale of our 81MW Guimarania projects in April of this year, we have now developed and sold 480MW of solar projects in the country and have a remaining pipeline of 476MW of projects with PPAs awarded from the government auctions.
“We are very pleased to have partnered with such leading renewable energy companies as EDF Renewables and Omega and look forward to future opportunities to work with them as we continue to grow and execute on our project pipeline in Brazil.”