Global Power Generation’s $36 Million Acquisition of 80.6 MWp solar energy project in Brazil


Cascione, Pulino, Boulos & Santos and Trench Rossi Watanabe (Baker McKenzie) advised on the deal

Canadian Solar Inc. (NASDAQ: CSIQ), one of the world’s largest solar power companies, completed the sale of its interest in the Guimarania solar energy project in Brazil to Global Power Generation, subsidiary of Spanish energy group Gas Natural Fenosa. The 80.6 MWp project, expandable to 83 MWp, is under construction and expected to reach commercial operation in the fourth quarter of 2018. Canadian Solar will supply its high-efficiency “MaxPower” modules for the Project.

The Project, located in the state of Minas Gerais in Brazil, was awarded a 20-year Power Purchase Agreement in the third Reserve Energy Auction in 2015. Once completed, the Project will generate 162,471 MWh per year and contribute towards the country’s goal of obtaining 23% of its energy from renewable sources by 2030.

Founded in 2001 in Canada, Canadian Solar is one of the world’s largest and foremost solar power companies. As a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions, Canadian Solar also has a geographically diversified pipeline of utility-scale power projects in various stages of development. In the past 17 years, Canadian Solar has successfully delivered over 26 GW of premium quality modules to over 100 countries around the world.

Global Power Generation (GPG), owned by Gas Natural Fenosa and the Kuwait Investment Authority, is a company dedicated to the power generation business. The company, led by Lluis Noguera, is based in Madrid.

Cascione, Pulino, Boulos & Santos advised Global Power Generation wiht Augusto Rodrigues and Guilherme Bertolini.

Trench Rossi Watanabe (Baker McKenzie International) advised Canadian Solar Inc. with José Roberto Martins (Picture), Bruno Alves Duarte, Priscila Giannetti, Beatriz Marconi and Denise Junqueira.

Involved fees earner: Augusto César Rodrigues – Cascione Pulino Boulos & Santos Advogados; Guilherme Bertolini Fernandes dos Santos – Cascione Pulino Boulos & Santos Advogados; José Roberto Martins – Trench, Rossi and Watanabe Advogados; Denise Junqueira – Trench, Rossi and Watanabe Advogados; Bruno Alves Duarte – Trench, Rossi and Watanabe Advogados; Priscila Giannetti Campos Pires – Trench, Rossi and Watanabe Advogados;

Law Firms: Cascione Pulino Boulos & Santos Advogados; Trench, Rossi and Watanabe Advogados;

Clients: Canadian Solar Inc.; Global Power Generation SA;

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Author: Ambrogio Visconti.