GASNF Naturgy Energy Group SA (PK)

   By Alberto Delclaux 
 

Spain's Gas Natural SDG SA (GAS.MC) said Monday that it agreed to acquire two solar photovoltaic projects in Brazil from Canadian Solar Inc. (CSIQ) in which it will invest 95 million euros ($116.7 million).

The projects are located in the state of Minas Gerais and will have an estimated production capacity of 165 gigawatt hours per year. They are expected to begin operating in the fourth quarter, the company said.

The agreement, which is linked to a 20-year power-purchase agreement with Brazil, is subject to regulatory approval.

Write to Alberto Delclaux at alberto.delclaux@dowjones.com

(END) Dow Jones Newswires

March 19, 2018 04:36 ET (08:36 GMT)

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