Canadian Solar has won the rights to develop three solar farms totalling 364MW in the latest renewables auction in Brazil.
The projects, which will be located in the states of Minas Gerais and Ceara, have been awarded 20-year power purchase agreements with an average price of approximately $35.58 a megawatt-hour.
The developer expects to bring the plants online by 2022.
Canadian Solar chairman and chief executive Shawn Qu said: “Brazil has proven to be an important market for us. Relentless innovations and focuses on driving down cost while improving efficiencies in all aspects have allowed Canadian Solar to deliver a 55.5% reduction in energy prices from the first auction, which accelerated the adoption of solar energy in the country.”
Image: Pixabay
Canadians shine in Brazil auction
By EBS