EDF to acquire 80% stake in 115 MW Brazilian solar farm

EDF Energies Nouvelles, the renewable arm of the French utility, has acquired an 80% stake in the 115 MW Pirapora II solar project, located in Brazil and being developed by Chinese solar firm Canadian Solar.

The project will be added to the portfolio of EDF EN do Brasil, the local subsidiary, once commissioned at the beginning of next year. Canadian Solar will retain a 20% stake and supply all modules for the plant. This new installation is located in the southeast of Brazil near to the existing Pirapora I plant – a 191 MW installation that is also owned 80/20 by EDF and Canadian Solar.

The two projects will deliver a combined output of more than 300 MW of solar power, which is enough to meet the annual energy consumption of 323,000 local households. A 20-year power purchase agreement (PPA) is in place for both plants.

For EDF, the acquisition accelerates its clean energy ambitions in Latin America. In Brazil alone, the firm now has a portfolio of 489 MW under construction, of which 306 MW is solar and 183 MW is wind.

EDF Group’s senior executive VP for Renewable Energies, and CEO of EDF Energies Nouvelles Antoine Cahuzac said that Brazil represents a “strategically important market for the EDF Group”, adding that the utility aims to double its renewable energy capacity worldwide by 2030.