Canadian Solar Inc announced that its Global Energy business group recently signed private power purchase agreements with Usinas Siderurgicas de Minas Gerais SA, one of the largest steelmakers in Latin America, committing 50% of the total electricity production of a 381 MWp solar power project in Brazil. For this PPA, Canadian Solar will develop and build the 381 MWp Morada do Sol project in the State of Goiás. Construction is expected to start in the first quarter of 2024 and the project is expected to reach commercial operation by January 2025. This is the first corporate PPA signed directly with an industrial customer under the Brazilian self-production framework, and sets another landmark for Canadian Solar in this market as it will directly and materially reduce energy costs for industrial consumers.The Morada do Sol project will use Canadian Solar's high efficiency bifacial BiHiKu modules. Once in operation, the project is expected to generate approximately 790 GWh of clean energy annually, equivalent to the annual electricity consumption of approximately 432,700 households or displacing 118,500 tons of CO2 emissions.Usiminas is the leader in the Brazilian flat steel market and one of the largest steelmaking complexes in Latin America. The company has industrial and logistics units located across six states and is present in the entire steelmaking chain, from ore extraction, through steel production, to its processing into products and capital goods customized for the market.Canadian Solar was founded in 2001 in Canada and is one of the world's largest solar technology and renewable energy companies. It is a leading manufacturer of solar photovoltaic modules, provider of solar energy and battery storage solutions, and developer of utility-scale solar power and battery storage projects with a geographically diversified pipeline in various stages of development.
Canadian Solar Inc announced that its Global Energy business group recently signed private power purchase agreements with Usinas Siderurgicas de Minas Gerais SA, one of the largest steelmakers in Latin America, committing 50% of the total electricity production of a 381 MWp solar power project in Brazil. For this PPA, Canadian Solar will develop and build the 381 MWp Morada do Sol project in the State of Goiás. Construction is expected to start in the first quarter of 2024 and the project is expected to reach commercial operation by January 2025. This is the first corporate PPA signed directly with an industrial customer under the Brazilian self-production framework, and sets another landmark for Canadian Solar in this market as it will directly and materially reduce energy costs for industrial consumers.The Morada do Sol project will use Canadian Solar's high efficiency bifacial BiHiKu modules. Once in operation, the project is expected to generate approximately 790 GWh of clean energy annually, equivalent to the annual electricity consumption of approximately 432,700 households or displacing 118,500 tons of CO2 emissions.Usiminas is the leader in the Brazilian flat steel market and one of the largest steelmaking complexes in Latin America. The company has industrial and logistics units located across six states and is present in the entire steelmaking chain, from ore extraction, through steel production, to its processing into products and capital goods customized for the market.Canadian Solar was founded in 2001 in Canada and is one of the world's largest solar technology and renewable energy companies. It is a leading manufacturer of solar photovoltaic modules, provider of solar energy and battery storage solutions, and developer of utility-scale solar power and battery storage projects with a geographically diversified pipeline in various stages of development.
