Nebras Power Investment Management B.v. Signs Agreement with Canadian Solar Inc

Source Press Release
Company Nebras Power Q.S.C.Canadian Solar Inc. 
Tags Asset Deals, Deals, Renewable Energy, Power
Date April 24, 2019

Nebras Power Investment Management B.V., a Dutch affiliate of Nebras Power Q.P.S.C.(“Nebras”) Signs Agreement with Canadian Solar Inc, Canadian Solar UK Projects LTD and Canadian Solar Netherlands Cooperative U.A. (“Canadian Solar”) to acquire an 80% equity stake in 4 greenfield bifacial solar PV projects in Brazil using Canadian Solar bifacial technology.

Nebras Power Investment Management B.V., a Dutch affiliate of Nebras Power Q.P.S.C. (“Nebras”) has signed a binding agreement to acquire 80% equity stake in 4 greenfield solar PV projects in Brazil from Canadian Solar, a leading global solar PV developer and solar panels manufacturer.

The acquisition provides Nebras with access to the attractive and fast-growing Brazil renewables power market and is in line with Nebras’ stated objectives of establishing itself as a leading international power developer.

The portfolio being transacted is the largest bifacial solar PV portfolio to commence construction in Latin America with a total capacity of 482.6 MW peak split as follows:

  • Salgueiro Solar Holding SA: 114.3 MW peak
  • Francisco Sa Solar Holding SA: 114.3 MW peak
  • Jaiba Solar Holding SA: 101.6 MW peak
  • Lavras Solar Holding SA: 152.4 MW peak

Commenting on the agreement, Mr. Fahad Hamad Al-Mohannadi, Chairman of the Board of Nebras said: “The acquisition by our Dutch affiliate of a controlling stake in these 4 bifacial solar PV projects is a key milestone in the implementation of the vision we had for Nebras since its inception. Nebras is strengthening its international expansion with successful and reputable partners and makes a major foray into a key market, Brazil. This transaction not only confirms this vision but at the same time increases Nebras global capabilities while bringing further geographic and technology diversification to its portfolio.”

Mr. Khalid Mohammed Jolo, Chief Executive Officer of Nebras, further stated: “We are celebrating today the signing of an agreement which brings Nebras to the next phase of its global expansion. Nebras is committed to becoming a leading international power developer. However, Nebras does not plan to do it alone. We witness today the illustration of our approach to team up with global and local reputable players in order to deliver growth in a sustainable and balanced manner. We are very pleased with this acquisition which adds to our solar capabilities in the Netherlands and our leading position in solar PV in Jordan. We are also very pleased to welcome Canadian Solar and to look at the future in solar together.”

Commenting on the deal, Mr. Faisal Al Siddiqi, Chief Business Development Officer of Nebras said, “This transaction is a first step in a very dynamic region identified by Nebras as key for future growth which we intend to follow with more in the near future. It also combines the strength of our respective companies in a balanced manner and further strengthens Nebras’ development capabilities in renewables.”

Source: EvaluateEnergy® ©2020 EvaluateEnergy Ltd