Santander announces an initiative that promises to reduce the electricity bills of thousands of Brazilians. This is a project for solar energy subscription in partnership with FIT Energia.

Santander and its affiliate FIT Energy launched a kind of solar energy subscription service through shared generation from generating partner farms that promises reduce the amount on the electricity bill. In an interview, the CEO of FIT, Bruno Menezes, stated that the service capacity in partnership with Santander is 500 contracted MWp and the idea is to reach around 500 thousand customers by the end of the year.

How does Santander's solar energy subscription work?

The idea is to attract customers who cannot install the photovoltaic panels and who wish to have savings that can reach up to 15% in relation to the value of the current quota without works or investments, depending on each region.

The offer announced by Santander and FIT Energia this Wednesday (April 16), covers consumers in 13 states, among 18 dealerships. The focus of the solar energy subscription is an electricity bill above R$250 for individuals and R$500 for companies, as long as they are not also allocated on the free market.

According to the executive, who sees little viability at the moment for projects called GD2, both for remote self-consumption and shared energy generation, by the end of the year the company should reach 20 states with solar energy subscription, with 28 distributors .

The company's relationship with Santander began in August last year, when the purchase of 65% of the business was announced, which closed in March this year.

The rest comes from Hy Brazil, which is now a generating partner, with more than 50 plants in operation in its portfolio in the 5 regions of the country, including PCHs, CGHs and photovoltaic plants, totaling more than 140 MW.

Companies speak out about initiative to reduce electricity bills 

It is worth mentioning that the company plans to install another 100 MW by the end of this year. For Rafael Thomaz, Head of the Energy desk at Santander Brasil, the solar energy subscription solution launched complements the bank's value offer and strategy of providing more and more solutions to retail, helping consumers save money on their electricity bills. while promoting the increase in renewable generation in Brazil and the financing possibilities for investors' projects. It is a super product for the bank, defines Thomaz.

Regarding the action plans at GD, Thomaz states that the composition announced with FIT, added to the fact that it is the largest financier of solar panels in the country, positions Santander well in this market, also placing itself as a pioneer in the solar energy subscription product among large financial institutions.

Having its own equity allocated in its own plants is ruled out, as it is more complicated for the bank in terms of capital and a conservative profile.

Other initiatives to reduce electricity bills

Another project promises to provide free solar energy to 50 homes and commercial establishments in the Northeast region of the country, at no cost to property owners.

This initiative is the result of a collaboration between Revo, Sou Energy and Huawei, operating in a similar way to leasing, with significant potential to leverage the use of photovoltaic energy in the region.

In this initiative, the owner or tenant subscribes to the service, allowing the installation of solar panels on the roof at no cost for equipment or installation. It works as a kind of roof rental, offering the user a discount of approximately 20% on their electricity bill.