Canadian Solar has agreed to sell its 70 per cent stake in Brazil’s Marangatu and Panati-Sitiá solar farms to SPIC Brasil for an undisclosed sum. The two solar projects will have a combined generating capacity of 738 MW and will cover a land area of 2,200 hectares. The projects are in advanced stages of development and are located in the states of Piaui and Ceara in Brazil’s north-eastern region.
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Canadian Solar’s majority-owned subsidiary, CSI Solar Co., has got a contract to supply a 350 MW/1,400 MWh fully integrated battery storage system to the Crimson stand-alone battery storage project in Riverside County, California. CSI will also provide EPC and long-term maintenance services as part of the contract.
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Canadian Solar has announced that it has received $100 million in financing from two Brazilian banks to help it develop and build solar projects in Brazil. The financing arrangement with banks BTG Pactual and Itau BBA would support up to 70 per cent of Canadian Solar’s equity commitments in its Brazilian project portfolio.
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Recurrent Energy, which is a wholly-owned subsidiary of Canadian Solar has announced its plans for several battery energy storage systems (BESS) which will be built in 2021 and 2022. These projects include retrofits as-a-service, solar plus storage power purchase agreements, as well as stand-alone storage tolling agreements.
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Canadian Solar with Macquarie and other investors has raised $208 million, which is equivalent to about 22 billion Japanese Yen for its Japan Green Infrastructure Fund (JGIF). The fund has been set up with the aim to develop solar power capacity in Japan.
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Canadian Solar Inc. has signed a power purchase agreement (PPA) with BTG Pactual and was also awarded with two projects in a private auction by Furnas Centrais Elétricas for a total of 862 MWp in solar power projects in Brazil.
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