France's EDF in Brazil solar acquisition

Monday, June 19, 2017

The Brazilian unit of France's EDF Energies Nouvelles has acquired an 80% stake in the Pirapora II solar power project from Canadian Solar, the companies said on Monday.

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The announcement comes less than a year after EDF EN do Brasil, as the unit is known, also secured an 80% interest in the 192MW Pirapora I project from Canadian solar.

Work is expected to begin on the 115MW Pirapora II plant in Brazil's Minas Gerais state later this year with the start of commercial operations slated for 2018.

Financial details of the deal were not disclosed.

Canadian Solar said it would supply modules for the project from its equipment factory in São Paulo state.

Pirapora II is anchored by a 20-year power purchase agreement and is expected to generate 231.992GWh a year.