Fund for Development Cooperation between China and the Portuguese-speaking Countries supports project in Brazil

7 March 2017

Canadian Solar Inc. has received funding of US$20 million from the Fund for Development Cooperation between China and the Portuguese-speaking Countries to support the implementation of projects in Brazil, the company said in a statement issued on Monday.

One such project is Pirapora I, in the state of Minas Gerais, with a peak nominal production capacity of 191 megawatts, currently being built with completion scheduled for the third quarter of 2017.

When its starts operating, this solar energy project will have an installed capacity of 391.3 gigawatt hours per year, enough electricity to power 200,000 homes and avoid emissions of 228,000 tons of CO2.

Canadian Solar announced in October 2016 the sale of a 80% stake in the project to EDF EN do Brasil, a subsidiary of EDF Energies Nouvelles, of the Electricité de France (EDF) group.

The operations of the Canadian company in Brazil include a solar panel factory with an annual combined production of 380 megawatts and several other projects that add 207 megawatts.

Founded in 2001, Canadian Solar is one of the most important companies in the world for solar panel production and provider of solar energy solutions, with its products present in about 90 countries.

Fund for Development Cooperation between China and the Portuguese-speaking Countries was formally established in June 2013, is jointly funded by the China Development Bank (60%) and the Industrial Development and Trade Fund (40%) and is intended to support the development of the Portuguese-speaking countries by helping to finance projects. (macauhub)

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