Canadian Solar Partners With Usiminas To Supply Energy For New Solar Power Plant To Be Built In Goiás

Canadian Solar Will Start Supplying Solar Energy to Usiminas with the Construction of a New Photovoltaic Solar Plant to Be Located in Goiás, with a Capacity of 381 MWp

On Friday (25), Canadian Solar announced that it has entered into a partnership to supply energy to Usiminas through a new solar energy complex located in Goiás. According to Usiminas, the contract signed with Canadian Solar estimates the delivery of 30 MW of solar energy on average over 15 years, starting in a 3-year timeframe. This is equivalent to about 12% of the energy volume used by the steel company.

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Canadian Solar Will Install a Solar Power Plant in Goiás

To meet the demand of the partnership with Usiminas, Canadian Solar will build a solar power plant with a capacity of 381 MWp in the municipality of Goiás, Luziânia, with an investment of R$ 1.35 billion. The construction of the solar power plant is expected to begin in the first quarter of 2024 and should start operations in January 2025.

Once operational, the solar energy complex is expected to generate a capacity of 790 GWh of renewable energy annually, which is enough to power 432,700 households. Canadian Solar stated that this is the first corporate PPA contract signed directly with an industrial client in the form of self-generation.

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According to Canadian Solar’s CEO, Shawn Qu, the partnership in Goiás will also contribute to expanding the company’s presence beyond approaching becoming a leader in the national market. The company’s partnership for the solar power plant also demonstrates the Canadian company’s ability to offer sustainable, innovative, and competitive solutions to its clients in a country where there are over 4 GWp generated in projects.

Canadian Solar Secures Financing with Itaú and BTG

In July of last year, the solar energy generation company announced the guarantee of financing of R$ 500 million from two national banks for the development of projects in the country.

According to the Canadian company’s announcement, the banks will finance up to 70% of the company’s capital contributions along with its portfolio in the country. Shawn stated at the time that the company is grateful to collaborate again with BTG and Itaú for financing the construction of more renewable projects in the country.

Get to Know Canadian Solar and Usiminas

Founded in 2001 in Ontario, Canadian Solar operates as a global electricity provider spanning 19 countries and 5 continents. The company is a leading manufacturer of photovoltaic modules and a provider of solar energy solutions with over 14,000 employees worldwide.

Usiminas, on the other hand, is a leading company in the flat steel production sector, founded in 1956 in Ipatinga. The company’s headquarters is located in Belo Horizonte. The Usiminas system stands out as the largest steel complex in Latin America and one of the top 20 largest in the world.