Canadians Bank Brazil PV Cash

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Canadian Solar has received $20m in unsecured funding from the China and Portuguese-speaking Countries Cooperation and Development fund (CPD Fund) to support photovoltaic projects in Brazil.

The company said the projects include the 191MW Pirapora 1 scheme in the state of Minas Gerais, which is currently under construction and is expected to be completed in the third quarter of 2017.

Canadian Solar chairman and chief executive Shawn Qu said: “We are glad to partner with the CPDF und in the growing solar energy market in Brazil.

“We look forward to more opportunities to cooperate with state-owned enterprises and institutional investors in China to boost solar energy growth globally.”

The CPD Fund was established in 2013 and is jointly run by China Development Bank and the Macau Industrial and Commercial Development Fund.

It aims to galvanise investment and cooperation between China and Portuguese-speaking countries.