{"id":16864,"date":"2022-06-15T09:00:00","date_gmt":"2022-06-15T13:00:00","guid":{"rendered":"https:\/\/recurrentenergy.com\/canadian-solar-secures-136-million-brazilian-reais-financing-for-lavras-ii-project-in-brazil\/"},"modified":"2022-06-15T09:00:00","modified_gmt":"2022-06-15T13:00:00","slug":"canadian-solar-secures-136-million-brazilian-reais-financing-for-lavras-ii-project-in-brazil","status":"publish","type":"post","link":"https:\/\/recurrentenergy.com\/es\/canadian-solar-secures-136-million-brazilian-reais-financing-for-lavras-ii-project-in-brazil\/","title":{"rendered":"Canadian Solar Secures 136 Million Brazilian Reais Financing for Lavras II Project in Brazil"},"content":{"rendered":"\n

GUELPH, ON,\u00a0June 15, 2022\u00a0\/PRNewswire\/ <\/strong>—\u00a0Canadian Solar Inc.<\/a>\u00a0(\u00abCanadian Solar\u00bb or the \u00abCompany\u00bb) (NASDAQ: CSIQ), today announced it has secured 136 million Brazilian reais (approximately\u00a0US$28 million) non-recourse project financing from Banco do Nordeste do\u00a0Brasil S.A.\u00a0(BNB) to support construction and operation of its 79 MWp Lavras II solar power project in\u00a0Brazil. BNB is the largest regional development bank in\u00a0Latin America, supporting the economy of\u00a0Brazil’s\u00a0Northeast Region.<\/p>\n\n\n\n

Lavras II is expected to reach commercial operation in the second quarter of 2022 and will be powered by Canadian Solar high efficiency BiHiKu<\/a> modules. Canadian Solar won the Lavras II solar project in a private auction held by COPEL Energia, which is part of COPEL Group, one of the top 10 energy trading companies in Brazil, in September 2019, with a 15-year, inflation-adjusted PPA.<\/p>\n\n\n\n

This inflation-linked debt tied to the National Consumer Price Index (IPCA) will provide improved capital and resource alignment with the Brazilian economy.<\/p>\n\n\n\n

Dr.\u00a0Shawn Qu<\/a>,\u00a0Chairman\u00a0and CEO\u00a0of\u00a0Canadian Solar Inc.,\u00a0commented<\/strong>, \u00abWe are pleased to extend our long-standing partnership with BNB. This financing once again demonstrates our capabilities and commitment to the Brazilian market, where we are a market leader with more than 2 GWp of backlog projects that have secured power purchase agreements,\u00bb\u00a0Dr. Qu\u00a0continued<\/strong>, \u00abSustainable public sector commitment for clean and affordable solar energy infrastructure has cemented\u00a0Brazil\u00a0as the biggest and fastest growing renewable energy market in\u00a0Latin America. As a leader in financing infrastructure projects, BNB’s continuing participation in our solar portfolio reinforces our confidence in the long-term potential of\u00a0Brazil’s\u00a0renewable energy sector.\u00bb<\/p>\n\n\n\n

<\/div>\n\n\n\n
About Canadian Solar Inc.<\/strong><\/h6>\n\n\n\n

Canadian Solar\u00a0was founded in 2001 in\u00a0Canada\u00a0and is one of the world’s largest solar technology and renewable energy companies. It is a leading manufacturer of solar photovoltaic\u00a0modules<\/a>, provider of solar energy and\u00a0battery storage solutions<\/a>, and developer of\u00a0utility-scale solar power\u00a0<\/a>and battery storage projects with a geographically diversified pipeline in various stages of development. Over the past 20 years,\u00a0Canadian Solar\u00a0has successfully delivered around 71 GW of premium-quality, solar photovoltaic modules to\u00a0customers across the world.<\/a>\u00a0Likewise, since entering the project development business in 2010,\u00a0Canadian Solar\u00a0has developed, built and connected over\u00a06.6 GWp<\/a>\u00a0in over 20 countries across the world. Currently, the Company has around 800 MWp of solar projects in operation, 5.3 GWp of projects under construction or in backlog (late-stage), and an additional 18.5 GWp of projects\u00a0in pipeline (mid- to early- stage).\u00a0Canadian Solar\u00a0is one of the most bankable companies in the solar and renewable energy industry, having been publicly listed on the NASDAQ since 2006.\u00a0For additional information about the Company, follow\u00a0Canadian Solar\u00a0on\u00a0LinkedIn\u00a0<\/a>or visit\u00a0www.canadiansolar.com<\/a>.<\/p>\n\n\n\n

<\/div>\n\n\n\n
Safe Harbor\/Forward-Looking Statements<\/strong><\/h6>\n\n\n\n

Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the \u00abSafe Harbor\u00bb provisions of the\u00a0U.S.\u00a0Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as \u00abbelieves,\u00bb \u00abexpects,\u00bb \u00abanticipates,\u00bb \u00abintends,\u00bb \u00abestimates,\u00bb the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include general business, regulatory and economic conditions and the state of the solar and battery storage market and industry; geopolitical tensions and conflicts, including impasses, sanctions and export controls; volatility, uncertainty, delays and disruptions related to the COVID-19 pandemic; supply chain disruptions; governmental support for the deployment of solar power; future available supplies of high-purity silicon; demand for end-use products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in demand from major markets such as\u00a0Japan, the\u00a0U.S.,\u00a0China,\u00a0Brazil\u00a0and\u00a0India; changes in effective tax rates; changes in customer order patterns; changes in product mix; changes in corporate responsibility, especially environmental, social and governance (\u00abESG\u00bb) requirements; capacity utilization; level of competition; pricing pressure and declines in or failure to timely adjust average selling prices; delays in new product introduction; delays in utility-scale project approval process; delays in utility-scale project construction; delays in the completion of project sales; continued success in technological innovations and delivery of products with the features that customers demand; shortage in supply of materials or capacity requirements; availability of financing; exchange and inflation rate fluctuations; uncertainties related to the\u00a0CSI Solar\u00a0carve-out listing; litigation and other risks as described in the Company’s filings with the\u00a0Securities and Exchange Commission, including its annual report on Form 20-F filed on\u00a0April 28, 2022. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today’s date, unless otherwise stated, and\u00a0Canadian Solar\u00a0undertakes no duty to update such information, except as required under applicable law.<\/p>\n\n\n\n

<\/div>\n\n\n\n

Canadian Solar Inc.\u00a0Investor Relations Contacts<\/strong><\/strong><\/p>\n\n\n\n

<\/div>\n\n\n\n

Isabel Zhang<\/em><\/p>\n\n\n\n

Investor Relations<\/p>\n\n\n\n

Canadian Solar Inc.<\/p>\n\n\n\n

investor@canadiansolar.com<\/p>\n\n\n\n

<\/div>\n\n\n\n

David Pasquale<\/em><\/p>\n\n\n\n

Global IR Partners<\/p>\n\n\n\n

Tel: +1-914-337-8801 <\/p>\n\n\n\n

csiq@globalirpartners.com<\/p>\n\n\n\n

<\/div>\n\n\n\n

\"Cision\" View original content:https:\/\/www.prnewswire.com\/news-releases\/canadian-solar-secures-136-million-brazilian-reais-financing-for-lavras-ii-project-in-brazil-301568512.html<\/a><\/p>\n\n\n\n

SOURCE Canadian Solar Inc.<\/p>\n","protected":false},"excerpt":{"rendered":"

GUELPH, ON,\u00a0June 15, 2022\u00a0\/PRNewswire\/ —\u00a0Canadian Solar Inc.\u00a0(\u00abCanadian Solar\u00bb or the \u00abCompany\u00bb) (NASDAQ: CSIQ), today announced it has secured 136 million Brazilian reais (approximately\u00a0US$28 million) non-recourse project financing from Banco do Nordeste do\u00a0Brasil S.A.\u00a0(BNB) to support construction and operation of its 79 MWp Lavras II solar power project in\u00a0Brazil. BNB is the largest regional development bank…Read More<\/a><\/p>\n","protected":false},"author":20,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[470],"tags":[501,626],"class_list":["post-16864","post","type-post","status-publish","format-standard","hentry","category-press-release-es","tag-brazil-es","tag-lavras-ii-es"],"acf":[],"yoast_head":"\nCanadian Solar Secures 136 Million Brazilian Reais Financing for Lavras II Project in Brazil - Recurrent Energy<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/recurrentenergy.com\/es\/canadian-solar-secures-136-million-brazilian-reais-financing-for-lavras-ii-project-in-brazil\/\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Canadian Solar Secures 136 Million Brazilian Reais Financing for Lavras II Project in Brazil - Recurrent Energy\" \/>\n<meta property=\"og:description\" content=\"GUELPH, ON,\u00a0June 15, 2022\u00a0\/PRNewswire\/ —\u00a0Canadian Solar Inc.\u00a0(\u00abCanadian Solar\u00bb or the \u00abCompany\u00bb) (NASDAQ: CSIQ), today announced it has secured 136 million Brazilian reais (approximately\u00a0US$28 million) non-recourse project financing from Banco do Nordeste do\u00a0Brasil S.A.\u00a0(BNB) to support construction and operation of its 79 MWp Lavras II solar power project in\u00a0Brazil. 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