Aiming to take advantage of the strong potential of the national territory regarding the production of this resource, the Lightsource BP joint venture is now building its first solar power plant in Brazil and is seeking to invest in new projects aimed at this segment.

The joint venture focused on the production of renewable energies Lightsource BP is, this Thursday (30/06), focusing on the energy production market solar energy in Brazil, aiming to take advantage of the country's potential. Thus, the company is already building its first resource generation plant in the state of Ceará and is seeking a financial investment in new projects aimed at this segment, as a way of expanding its presence in the American market. 

Brazilian solar energy market grows and Lightsource BP is looking to invest in projects to produce the resource, with a plant already underway in Ceará

The British oil company BP is now seeking to diversify its focus on the international market and, through its joint venture focused on renewables, Lightsource BP, seeks to focus on the solar energy segment in the national territory. Thus, the company now invests in the acquisition of new projects for production in the resource in Brazil, since the country has a strong potential for taking advantage of the climate in energy generation. 

Currently, the company has a portfolio of 4 peak GW of projects under development in the Brazilian market, but it still intends to further expand its presence in the national segment with new projects.

This is because the oil company BP set a target, for 2030, to increase its renewable generation capacity by 20 times, to 50 GW, compared to 2019. In this way, the focus on the Brazilian production market could accelerate the project of the British company, in addition to fostering even greater economic growth in the coming years. 

And, among the solar energy projects that the company is currently developing in the country, the main one is the new production plant, called Milagres, which will have a total of 210 MWp of production potential and is being built in the region of Abaiara, in the state of Ceará.

This is the company's biggest project currently in the country and is expected to start operating in early 2024. Thus, the company will take advantage of the state of Ceará not only to expand energy production, but also to guarantee the hiring of qualified employees for the project. renewables sector. 

Joint venture seeks to geographically diversify portfolio and take advantage of solar energy production potential with plant in progress and new projects ahead

According to the Lightsource BP joint venture, the company's main objective currently in the Brazilian market is mainly to take advantage of the territory's production potential, with the development of the solar power plant in Ceará.

But, in addition, the British company also intends to expand its portfolio geographically speaking and wants to reach new markets in entire countries, thus guaranteeing a greater presence in the segment of renewable.

Thus, the country manager of Lightsource BP do Brasil, Ricardo Barros, commented on the company's main objectives with projects in Brazil and highlighted that “Our first objective is to accelerate the portfolio. Our projects are good, we're excited about them, but they're so in a less advanced stage of development. We need more advanced projects to grow faster, but without going crazy, of course. There is still room for many people to enter [the Brazilian market]”.

The company currently operates in 19 countries, such as the USA, Australia, Spain and the United Kingdom, and has, as a global goal, to reach 25 GW of solar projects developed by 2025. In this way, the Brazilian competitiveness and potential in this segment will be essential for deadlines to be met as planned.