Yingli nears Renova deal in Brazil

Chinese PV manufacturer, Yingli Solar, is closing in on a 5MW supply deal with Brazilian renewable power company Renova, said the former's Brazil manager Markus Vlasits.

“We are finalising a deal with a very important player in the Brazilian market," he said.

Vlasits said that the deal comprises of 20,000 polycrystalline panels that will be installed in Renova's wind-solar hybrid project in the northeastern state of Bahia.

The Caetité project will have solar capacity of 4.8MW and a wind capacity of 21.7MW that will be ready in 2015.

Renova has signed a 10-year, R$108m ($49m) loan deal with Brazil's federal innovation financing company Finep for the project.

The deal is part of Yingli's strategy to enter the emerging Brazilian solar market in the large-scale and rooftop sectors, Vlasits said.

The announcement comes after Yingli said it will offset carbon emissions from the 2014 World Cup, of which it is one the biggest sponsors.

So far in Brazil, Yingli has supplied panels for the 1MW Tanquinho project and 1MW solar PV array at the Pernambuco Arena stadium.