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Bahia Gains New Solar Power Plant Project From Focus Energia, Investments Reach Over BRL 2 Billion
The Brazilian energy company Focus Energia is planning to build a solar power plant in the state of Bahia with total investments of BRL 2.2 billion (USD 414 million / EUR 343 million).
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The solar power plants will be part of the Futura project and will be located in the city of Juazeiro, the local government announced last week.
According to Focus Energia’s IPO prospectus, the complete Futura solar power project will include 45 parks divided among Futura 1, Futura 2, and Futura 3 / Apia, with a combined capacity of 3 GW. The company has already acquired 22 parks with a total capacity exceeding 671 MW and has exclusive purchase options for the others.
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Illiterate or semi-literate grandmothers were trained to repair solar systems, open rural workshops, and light up homes that still depended on kerosene.
Focus Claims Solar Plant in Bahia Will Start As Soon As Possible
Focus Energia expects to start the solar power plant project in Bahia in the next two months. The initial power supply is scheduled to begin at the end of the first half of 2022, while full commissioning is scheduled for the beginning of the following year.
Last month, the state of Bahia also announced the deployment of the wind complex Ventos de São Vitor, costing BRL 2.3 billion, by the local renewable energy company Essentia Energia.
Focus Energia IPO
The company intends to use the funds from the operation to invest in energy generation projects, primarily solar, with the intention of reselling the output from the parks in the so-called free market, where large consumers negotiate their electric supply directly with companies in the sector.
The company also intends to use part of the revenue for general corporate expenses and to strengthen its capital structure and liquidity, according to the document.
