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Thinking of Migrating to Solar Energy Industry, EDP Brazil Puts Three of Its Six Hydroelectric Plants Up for Sale
In order to reconfigure its solar energy generation portfolio, EDP has put three of its six hydroelectric plants operating in Brazil up for sale. With the process already underway, EDP is expected to receive non-binding proposals for the hydroelectric plants in the coming weeks.
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Money from the Sale of Hydroelectric Plants Will Be Invested in New Solar Energy Plants, Said the President of EDP Brazil
According to João Marques da Cruz, the new president of EDP Brazil, the initiative has two main missions. The first is to raise funds to ensure that investments in solar photovoltaic energy occur as quickly as possible, as it is one of the main sectors in which the company intends to invest.
The second is to reduce the risk of the portfolio linked to hydroelectric plants, whose source has faced significant challenges due to scarcity. He states that by the end of 2025, EDP will have more generation than it currently has; thus, the company will not discard hydroelectric plants but will rely more on solar energy. Marques preferred not to provide details about this process. However, the newspaper Valor Econômico reported that the hydroelectric plants Cachoeira Caldeirão (AP), Santo Antônio do Jari (AP), and Mascarenhas (ES) have been sold, totaling 800 MW.
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EDP and Its Solar Energy Solutions
With 54,753 kWh of installed energy, EDP provides solar energy solutions for both buildings and homes, allowing for self-production and consumption of energy. Annually, EDP’s solar panels and plants reduce CO2 emissions in the atmosphere by 17 tons.
In 2018, the company built a solar power plant that provides 100% sustainable energy for 88 Banco do Brasil branches in the state of Minas Gerais; through this project, the reduction in emitted gases reaches one ton per year, equivalent to more than 7,000 planted trees. With the investments coming from the sale of the hydroelectric plants next year, EDP will further contribute to sustainable development.
About EDP
Arriving in Brazil in 1996, EDP Brazil is a Brazilian holding company centered on the electric sector, operating in 11 states: Minas Gerais, Mato Grosso do Sul, Tocantins, Amapá, Pará, Maranhão, São Paulo, Espírito Santo, Santa Catarina, Ceará, and Rio Grande do Sul.
In energy generation, the company participates in several projects, including the hydroelectric plants: Peixe Angical, Luís Eduardo Magalhães, São Manoel, and Pecém I, excluding the plants that were recently sold and the solar energy plants installed in residences.
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