Dias Carneiro advises Canadian Solar on the sale of 635 MWp to VTRM

Dias Carneiro Advogados advised Canadian Solar on the sale of 635 Mwp solar photovoltaic project to VTRm in Jaíba, Brazil

Dias Carneiro Advogados has advised Canadian Solar Inc., one of the world’s largest solar energy and battery storage companies, on the sale of 635 MWp Jaíba V solar project to VTRM, a leading renewable energy company of Votorantim Group in Brazil.

The Jaíba V Project, located in the Northeastern state of Minas Gerais, is in advanced stage of development and is expected to begin construction in 2022, and reach commercial operation in 2023.

Once operational, the project will be one of the largest solar projects in the country, covering approximately 3,706 acres of land (1,500 ha), and is estimated to generate clean electricity equivalent to the annual consumption of over 500,000 households. Approximately 40% of Jaíba V’s installed capacity is already committed through long-term PPAs (power purchase agreements), and the remaining energy will be sold in the free market.

With the completion of this sale, Canadian Solar will have successfully monetized 1.6 GWp of utility-scale solar projects in Brazil and will continue to execute and monetize its remaining pipeline of more than 2.5 GWp of high-quality, contracted solar projects. Canadian Solar is a leader in the Brazilian market, and it continues to expand its leadership position across more Latin American markets, including Colombia and Chile. Learn more

Dias Carneiro Advogados was counsel to Canadian Solar with partners Paula Seabra Carvalho Reis (pictured left), Paulo Leme (pictured center), Paulo Afonso Tavares Rodrigues (pictured right), associate Tathiana Luz and intern Gabriella André Marques Pereira.

Lefosse Advogados represented VTRM Energia with partner Mirella Abe and associate Arao Kang.