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Newave Energia Invests Billion in Goiás for Construction of a New Solar Power Plant. The Expectation is That the Project Will Create 1,500 Jobs and Boost the State’s Economy.
Newave Energia, a company specialized in solar energy, recently announced the construction of the largest solar power plant in the state of Goiás, through a partnership with the State Government and Gerdau. Nearly a year and a half ago, Gerdau closed a partnership with the investment manager Newave Capital for the construction of a project in the city of Arinos in Minas Gerais, and now will start the construction of the Barro Alto project in Goiás, another large-scale and highly competitive power plant.
Company Promises to Create Thousands of New Jobs
In a meeting held on this Monday (30), a investment of R$ 1.3 billion was announced for the new solar power plant, which will be inaugurated in the municipality of Barro Alto, 226 km from Goiânia. According to the project, the expectation is that 1,500 direct jobs will be generated, just during the construction period. The new solar power plant, which will be the largest in the state, will have 731,000 solar panels, spread over an area of approximately 800 hectares.
Operations are expected to start as early as 2026, with the new solar power plant accounting for 22% of the solar energy generation capacity in Goiás, capable of supplying the consumption of a city with 365,000 inhabitants.
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The production will primarily target sales in market segments, in addition to supplying Brazilian steel manufacturing units of Gerdau (a company that forms part of Newave Energia together with Newave Capital), which is currently undergoing a decarbonization process.
What Will Be the Capacity of the New Solar Power Plant?
In addition to generating thousands of jobs, the new solar power plant will have 452 megawatt-peak (MWp) of installed capacity. Part of the billion-dollar investment comes from financing from SUDECO, operated by Banco do Brasil.
The CEO of Newave Energia and founder of Newave Capital, Edgard Corrochano, and the executive director of Gerdau Next, Elder Rapachi, explain that the amount of energy to be generated by the new solar power plant corresponds to 111 MWm, which in energy equivalents could supply the consumption of a city with about 365,000 inhabitants.
According to Corrochano, all investment capital is 100% Brazilian, and the companies raised over R$ 900 million in the FIP with more than 15,000 investors. According to the partnership plan, the new solar power plant, which will create thousands of jobs, will provide a portion of the energy volume to Gerdau’s steel production units in Brazil, as part of its decarbonization process.
According to Rapachi, this is an important step in Gerdau’s decarbonization strategy and in increasing the competitiveness of its operations in Brazil. Gerdau already has one of the best global averages for greenhouse gas emissions, being 50% lower than the global average for the steel sector.
The Solar Energy Market in Goiás
Being located in the “sunbelt,” the solar energy potential in Goiás is among the most favorable in Brazil. Thus, the highest solar irradiation values, according to the Brazilian Solar Energy Atlas, are highlighted, mainly in the northeastern part of the Goiás state.
According to surveys by the National Institute for Space Research (INPE), the state stands out with its solar incidence between 2,000 and 2,500 hours of sunshine per year, above the national average. Being located in one of the most privileged regions of the country means better utilization of clean and renewable energy generation, even though its energy matrix still represents only 0.3%.
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