Canadian Solar Signed Two Corporate PPAs for 274 MWp Solar Power Projects

Guelph - Canadian Solar Inc. announced that it recently signed two private power purchase agreements ("PPA") with Braskem S.A. and Copel Energia for a total of 274 MWp in solar power projects in Brazil.

Braskem S.A. ("Braskem", NYSE: BAK) is the largest producer of thermoplastic resins in the Americas and the largest producer of polypropylene in the United States. Braskem will purchase solar energy through a 20-year PPA with Canadian Solar, as it strives to reach its sustainability goals.

For this PPA, Canadian Solar will develop and build a 152 MWp project in the State of Minas Gerais, in the same region as other projects already developed and built by the Company. Construction will start in 2021 and expected to reach commercial operation before the end of 2022. This is the first PPA signed directly between Canadian Solar and an industrial customer in Brazil and sets another landmark for Canadian Solar in this market.

Copel Energia ("Copel") is part of Copel Group, one of the top 10 energy trading companies in Brazil and the largest utility in the State of Paraná. For the 15-year PPA with Copel, Canadian Solar will build a 122 MWp project in the State of Pernambuco in 2021 as the second phase of a project already under development by the Company.

Both projects will use Canadian Solar's high efficiency bifacial BiHiKu modules. Once in operation, the combined projects are expected to generate approximately 610 GWh of clean energy annually

Source: IWR Online, 30 Jun 2020