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Canadian Solar Acquires 47.5 MWp Portfolio in Chile to Operate Under PMGD Scheme
Monday 10 February 2020

10 February 2020 - Solar power company Canadian Solar Inc. (NASDAQ: CSIQ) has acquired a 47.5 MWp portfolio of solar projects under development in Chile, with operations expected to begin in 4Q20, under the PMGD (Pequeños Medios de Generación Distribuída) scheme, the company said.
Terms of the transaction were not disclosed.
The projects will be located in the Araucanía and Maule Regions of Chile and will use approximately 132,000 pieces of Canadian Solar's high efficiency BiHiKu bifacial modules, expected to generate over 89.1 GWh of electricity or power approximately 28,500 households per year.
The projects will be part of the current stabilised price regime, with prices updated and published by the CNE (Comisión Nacional de Energía) every 6 months.
These plants are valuable additions to Canadian Solar's current portfolio in Latin America and solidify the company's position in this region where it has been cumulatively awarded 2.2 GWp in solar projects across Brazil, Chile, Argentina and Mexico.
Canadian Solar Inc. is a manufacturer of solar photovoltaic modules and a provider of solar energy solutions with a geographically diversified pipeline of utility-scale solar power projects in various stages of development.
Date Published: 10/02/2020
Target: 47.5 MWp portfolio of solar projects under development, 47.5 MWp portfolio of solar projects under development
Country: Chile
Sector: Alternative Energy
Type: Corporate acquisition
Status: Closed
Buyer: Canadian Solar Inc
Terms of the deal were not disclosed