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The Million-Dollar Investment in Solar Energy Will Be Made by EDP Aiming to Further Expand the Solar Energy Sector in the State
EDP, an energy company, revealed an investment of R$ 530 million in solar energy generation and transmission in Goiás. The announcement of the investment in solar energy was made during an event in the state, highlighting the company’s commitment to expanding the renewable energy sector. The resources will be allocated according to the following division: R$ 325 million will be allocated for the construction of 11 plants, with an installed capacity of 48 MWp, by the next year. Of these, 27 MWp are under construction, including a plant that provides energy to Banco do Brasil, while 21 MWp are in development, according to Exame.
Additionally, another R$ 200 million will be invested in transmission between 2023 and 2024. It is worth noting that EDP acquired Celg Transmissão in early 2022. The resources will be directed towards the expansion, modernization, and capacity increase of seven substations. Furthermore, R$ 5 million will be allocated to social impact projects, such as EDP nas Escolas. The total investment amount will come from the company’s investment budget (Capex) for the next two years.
The Importance of Investments in the Renewable Energy Sector
EDP highlights the importance of distributed solar generation, both for the company and for the population and businesses in Goiás. Through this investment, consumers will have the advantage of paying a lower price than that charged by the local distributor. A two-year contract will be established, in which, at the end of the period, people and businesses in the state will be able to choose which method of generation they wish to adopt.
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It is believed that distributed solar energy generation will be the preference due to its economic and environmental advantages, in addition to not requiring an initial investment. João Marques da Cruz, CEO of EDP Brasil, emphasizes the relevance of this model for the company.
The price reduction compared to the traditional tariff, which can be around 10%, is directly related to the subsidies and incentives granted for solar energy generation. No additional contracts have been established between EDP and the local distributor, Equatorial.
This investment in solar energy is part of EDP Group’s plan to become fully sustainable by 2030. In Brazil, the company plans to invest at least R$ 6 billion by 2025, with the goal of expanding its presence in the solar energy sector and reducing reliance on thermal power plants, as stated by the CEO in an interview with EXAME IN in 2022. EDP reinforces its commitment to the energy transition and contributes to the sustainable development of the country.
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