Major Renewable Energy Companies Partner To Build 12 New Solar Power Plants In Brazil

Written by Valdemar Medeiros

Published on 02/07/2021 at 17:38

Updated on 02/07/2021 at 18:28

Painéis de energia solar – créditos: ABsolar Brasil

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Renewable Energy Sector Companies Sign Agreement to Build 12 Solar Power Plants Promising to Generate 37 MWp

Last Tuesday (29), Norsk Solar signed an agreement with renewable energy companies GDSolar and Órigo Energia to build 12 solar power plants in Brazil. The initial investment will be R$ 150 million and is expected to generate hundreds of job vacancies.

Norsk Invests in Creating New Solar Power Plants in Brazil

The plants will have a capacity to generate approximately 37 MWp. The company’s goal is to finance, develop, and build a portfolio of solar energy projects aimed at industrial and corporate sectors. According to Norsk Solar, this agreement with renewable energy companies is a natural step in the company’s business plan in Brazilian territory, making entry into this market more stable.

The team has been working with a focus on clients within the commercial and industrial (C&I) space and aims to meet the demand for renewable energy at predictable and low costs.

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The renewable energy companies intend to invest approximately R$ 150 million in the first phase of the plants, and a large portion of the plants will be constructed in the state of Minas Gerais. The contract is long-term and will last for 25 years.

The Role of Each Renewable Energy Company in the Partnership

GDSolar will be responsible for developing the operation, business modeling, and construction of the plants. The partnership with GD will help enhance Norsk Solar’s reputation in the Brazilian renewable energy market and also provides strong support for the positioning achieved at the international level.

Órigo Energia, the third renewable energy company involved, will be responsible for distributing and managing the energy from the new plants built in the operation. The company highlighted the importance of the economy generated by this mode of distributed generation, which benefits many families, especially during this challenging time that Brazil is facing due to various aspects and because of the electricity cost that is already at the red flag level 2.

Nordic Impact Cooperation

The solar power plants anticipated in the agreement among the three companies are aligned with the investment guidelines of the funding platform, Nordic Impact Cooperation AS, organized by Norsk Solar and Finnfund at the beginning of the year.

Due to the worsening of the COVID-19 pandemic, the signing ceremony among the companies occurred simultaneously at the Honorary Consulate of Norway in Brazil, located in SP, and at the Embassy of Brazil in Norway, in Oslo.

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