EDF Energies Nouvelles to Partner with Canadian Solar

Written By: Stratton Report
June 19, 2017

Canadian Solar solar farms pv project

On June 19, 2017, Canadian Solar Inc. announced the acquisition of majority interest in Canadian Solar’s solar energy project in Brazil by EDF Energies Nouvelles.

The project will start construction in the fall of 2017 and is expected to reach commercial operation in 2018. Canadian Solar will supply the modules for the project which was awarded a 20-year PPA in the first Reserve Energy Auction and is expected to generate 231,992 MWh per year and contribute towards the country’s goal of obtaining 23% of its energy from non-hydro renewable sources by 2030.

Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar commented:

“EDF EN is an important strategic partner of Canadian Solar and we look forward to further expanding our cooperation with them while we grow our project pipeline in Brazil and other countries.”

BTG Pactual served as financial advisor to Canadian Solar in the transaction.