CSIQ - Canadian Solar sells 70% stake in two of Brazil's largest solar projects

Canadian Solar (NASDAQ:CSIQ) said Monday it agreed to sell 70% of its stake in two solar projects in Brazil to SPIC Brasil, which are expected to be two of the largest solar power plants in the country. Canadian Solar (CSIQ) said it was selling the stakes in its Marangatu and Panati-Sitia solar projects, 446 MWp and 292 MWp in size respectively, but did not provide financial details of the sale. Both projects, which will generate electricity equal to powering more than 900K households in Brazil annually, are at advanced stage of development and are expected to begin construction in late 2022 and reach commercial operation in late 2023. "With the completion of this sale, Canadian Solar will have successfully monetized 2.3 GWp of utility-scale solar projects in Brazil," Chairman and CEO Shawn Qu said. Canadian Solar (CSIQ) +7.4% pre-market on reports that President Biden will not impose new tariffs on

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Canadian Solar sells 70% stake in two of Brazil's largest solar projects