EDF to acquire 80% stake in Brazilian solar farm

EDF will take an 80% interest in the Pirapora III PV project, currently under construction in the Brazilian state of Minas Gerais. The project received a 20-year PPA in Brazil’s 2014 Reserve Energy Auction, and is expected to reach commercial operation in the fourth quarter of 2017.

Modules for the 92.5 MW project are being supplied by Canadian Solar from its factory in Brazil, EDF will now manage both the construction and operations of the project. EDF and Canadian Solar have carried out two similar deals in recent months, with the former taking an 80% share in the 191.5 MW Pirapora I project, and in the 115 MW Pirapora II project.

“This acquisition constitutes further evidence of our growth ambitions in Brazil, a key renewable energy market,” says Antoine Cahuzac, EDF Energies Nouvelles CEO. “It represents a new step toward the EDF group’s goal of doubling its renewable capacity worldwide by 2030.”

Shawn Qu, CEO and President at Canadian Solar echoed Cahuzac’s pride in the partnership: “We are proud to be working with EDF on a third project in Brazil. We look forward to continuing our successful collaboration on other opportunities in the future, as we expand our solar project pipeline globally.”