Bifacial solar panels seem to be gaining some traction in various markets around the world. Canadian Solar plans to install more than 286,000 of its BiHiKu bifacil PV modules, each said to produce more than 400W of nominal power on their front sides, in bringing the project to fruition.
Brazilian development bank Banco do Nordeste is providing the $80 million to finance the 114-MW, Salgueiro solar PV project in northeastern Brazil's Pernambuco state, according to a news report.
It's the second Canadian Solar, utility-scale project the development bank has financed. The contracts come with 20-year PPAs with Brazil's Chamber of Electric Energy Commercialization, the news release says.
Canadian Solar came out a big winner in Brazil's two recent A-4 energy auctions, which held in Dec. 2017 and April 2018. The vertically integrated solar PV market player came away with 955 MW of capacity awards in the solar power tender.
Canadian Solar's decision to build a 380-MW PV module factory is playing what appears to be a pivotal role. For one thing, projects that incorporate components made in Brazil are eligible for funding from Banco do Nordeste, as well as development bank peer BNDES, the news report points out.