Canadian Solar is currently in the process to sell 70% of its stakes in two Brazilian solar projects. The value of the transfer to SPIC Brasil, subisidary of China Power Investment Corporation (SPIC), has not been disclosed.
Approval of the deal by Brazil's antitrust entity CADE is still pending, however.
The two photovoltaic (PV) plants total 738MW of capacity: the Marangatu (446MW) project in the state of Piauí and the Panati-Sitia (292MW) project in Ceará.
Both the facilities are expected to begin construction by the end of the year, with start-up slated for the same period in 2023.
A portion of 75% of both the projects has already been acquired through power purchase agreements (PPA), with the remaining 25% to be negotiated in the free market.
For more information please visit EICDataStream.