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Canadian Solar sells 80% stake in Brazilian solar project to EDF

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Canadian Solar sells 80% stake in Brazilian solar project to EDF

Canadian Solar Inc announced Aug. 10 a deal to sell an 80% stake in a 92.5-MWp photovoltaic solar project in Brazil to a local subsidiary of EdF Energies Nouvelles.

The Pirapora III solar project in the state of Minas Gerais is under construction and is expected to achieve commercial operation by the fourth quarter of 2017. EDF's local subsidiary, EDF EN do Brasil, will manage construction and operations at the project.

The facility will be able to produce 188 GWh of electricity annually, according to an Aug. 10 release.

EDF Energies Nouvelles is the renewables arm of EDF Group.