Recurrent Energy, a subsidiary of Canadian Solar Inc. (“Canadian Solar”) (NASDAQ:CSIQ) and a global developer, owner, and operator of solar and energy storage assets, announced today the inauguration of the 446 MWp / 360 MWac Marangatu Solar Complex in Brasileira, Brazil. SPIC owns 70% of the project, while Recurrent Energy owns the remaining 30%.
Developed by Recurrent Energy, Marangatu Solar Complex was fully energized in April 2024 after 14 months of construction. 75% of the energy generated is secured through long-term power purchase agreements (PPAs). The complex will generate enough electricity to power approximately 550,000 homes annually. Additionally, the project created around 1,500 direct jobs and 500 indirect jobs.
