Canadian Solar is selling an 80% interest in four photovoltaic projects in Brazil totalling over 482MW to Nebras Power Investment Management for an undisclosed price.
The projects are the 114.3MW each Salgueiro and Francisco Sa plants, the 152.4MW Lavras facility and the 101.6MW Jaiba scheme.
All four are in advanced stages of development with construction expected to start later this year.
Canadian Solar will supply bi-facial modules to the projects and continue to hold 20% stakes in each one.
Canadian Solar chairman and chief executive Shawn Qu said: “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.”