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After Minas Gerais Receives a Solar Plant Financed with Digital Currency, Bahia and Rio de Janeiro Will Be Included in the Solar Energy Project Funded by EnyCoin, a Brazilian Cryptocurrency
With funding coming from transaction fees of a Brazilian cryptocurrency, EnyCoin, the development of Brazil’s first solar power plant funded by cryptocurrencies in Bahia has begun. The solar plant, which represents clean energy generation, is seen as a new trend that is expected to gain momentum over time, offering returns on investment in both the short and long term and a lower risk compared to fossil sources, such as oil, coal, and natural gas.
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Bahia and RJ Will Receive Solar Plant Funded by Brazilian Cryptocurrency
The city chosen for the official launch of the construction of the first solar plant funded by the Brazilian cryptocurrency was Itaobim, in Minas Gerais, on the 15th of this month. Subsequently, Bahia and Rio de Janeiro, two important hubs for solar energy generation in Brazil, will also receive the innovation.
The premise is that the more the Brazilian cryptocurrency is purchased, the more it will increase in value, which represents a natural incentive for reducing carbon emissions, producing clean energy in the country and worldwide, and mitigating global warming. The Bahia project includes a large-scale solar energy complex, which will generate alternating current energy to be transmitted to the National Interconnected System grid.
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As the new solar plant will be installed in a remote area, its energy will be sent to urban centers through transmission lines. The estimate is that each hub will operate with one Megawatt of power. Given that each household in Bahia uses about 121.6 kW per month, the solar plant will be capable of supplying at least 10 thousand homes.
Discover the First Solar Energy Plant Recently Installed in MG with Cryptocurrency Resources
Itaobim began construction of the solar energy plant on the 15th, the first in Brazil to be fully funded by resources from a decentralized finance Brazilian cryptocurrency.
According to the CEO of Energy Pay, responsible for ENY, Marcos Silva, the forecast is that the plant will be operational by December of next year. At the launch ceremony of the solar energy plant, Fabiano Fernandes, mayor of the municipality, thanked the ENY team and stated that the project will create jobs, income, and development for the municipality.
Entrepreneurs Develop the First Brazilian Cryptocurrency
In August of this year, a group of entrepreneurs created the cryptocurrency Light DeFi, which was launched with the aim of attracting enthusiasts in the renewable energy sector. According to Germano Sales, one of the entrepreneurs, the company sees enormous potential in the solar energy market, given the huge demand for the service.
Thus, Light DeFi decided to create the cryptocurrency so that investments could be made viable and projects could be brought to fruition. According to Sales, just 120 minutes after the virtual currency launch, the asset had already recorded a valuation of 14,000%, with more than 2,600 investors and had raised over R$ 1 million.
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