Canadian Solar to sell its 80% interest in a 482.6 MWp contracted Brazilian solar project portfolio to Nebras Power
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”).
These 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.
The solar portfolio includes the following projects:
- Salgueiro 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 peak
With 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.
“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.
Source: Canadian Solar Inc.
About Nebras Power Q.P.S.C.
Nebras 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.
About Nebras Power Investment ManagementB.V.
Nebras Power Investment Management B.V. (“NPIM”) is a wholly owned subsidiary of Nebras Power Q.P.S.C., incorporated in the Netherlands and is operating since 2016. NPIM is the international investment management platform of Nebras Power Q.P.S.C. Its mandate is to own, develop and invest, in greenfield developments and brownfield projects, in the sectors of power and water, in the Netherlands and internationally.
About Canadian Solar Inc.
Canadian Solar was founded in 2001 in Canada and is one of the world’s largest and foremost solar power companies. It is a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions and has a geographically diversified pipeline of utility-scale power projects in various stages of development. Over the past 18 years, Canadian Solar has successfully delivered over 32 GW of premium quality modules to customers in over 150 countries around the world. Canadian Solar is one of the most bankable companies in the solar industry, having been publicly listed on NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.