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Canadian Solar Investing $23 Million in Brazil Panel Factory

  • Brazil seeking to develop domestic solar manufacturing
  • Plant will have 350 megawatts of production capacity

Canadian Solar Inc., the world’s second-largest solar manufacturer, is building its first plant in Brazil.

The facility in Sorocaba, in the state of Sao Paulo, will be able to assemble about 350 megawatts of panels a year, according to Wladimir Janousek, general manager of the company’s Brazil unit. The Guelph, Canada-based solar company is expected to announce Friday that it’s investing about 80 million reais ($23 million) in the facility.