Edf En do Brasil Acquires 80% Stake in Pirapora III Solar PV Project in Brazil from Canadian Solar

Published: Aug 10 2017
Deal Summary

Edf En do Brasil Participacoes Ltda, a renewable energy company and a subsidiary of EDF Energies Nouvelles, has acquired 80% stake in Pirapora III solar photovoltaic (PV) project, located in Minas Gerais, Brazil, from Canadian Solar Inc., a solar energy company. The total installed capacity of the plant will be 92.5 MW.

The Pirapora III project has started construction and is expected to reach commercial operation in the fourth quarter of 2017. EDF EN do Brasil will manage both the construction and operations phases of the Project.

The project has a 20-year Power Purchase Agreement in the 2014 Reserve Energy Auction, and will generate 188 GWh per year and contribute towards the country's goal of obtaining 23% of its energy from non-hydro renewable sources by 2030.

With other two recent solar plants acquisition, Edf En do Brasil will have capacity totaling close to 400 MW.

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