With the high cryptocurrency market, works of the first photovoltaic solar power plant in MG financed entirely with virtual currency start today    

Starts today, Wednesday, December 15, 2021, in Itaobim/MG, the construction of the first photovoltaic solar power plant in Brazil with financing made from transaction fees of the cryptocurrency EnyCoin (ENY). The grand opening event will be broadcast via the Telegram messaging app. The EnergyPay project corresponds to the photovoltaic energy project, integrated with the blockchain technology system, in South America. It is expected that around 14 solar plants will be built in MG, of 1 mw each, by mid-2025.

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Initial phases of the work on the solar plant in MG

The first phase of the work is focused on the transaction fee, where the percentage that will be allocated to the project will be calculated. In the second phase, those who are interested will be able to buy fractions of the solar energy plants.

The price of the fractions has not yet been determined. This buying process was named 'tokenization'. After that, there is a stage that was entirely dedicated to the private network, where groups of buyers will receive different proposals to make the works in MG feasible. In the last phase, there will be reinvestment on production, that is, it will be a cycle of investment and reinvestment, until the construction target of at least 15 mw is reached.

With the 'tokenization' of photovoltaic solar power plants, in addition to making it possible to distribute solar energy to homes, companies and also to the industrial sector, buyers of the ENY cryptocurrency will have a fraction of the company. That is, they will be able to gain both with the appreciation of the invested financial asset and with the percentages of energy sales through the currency platform.

Energy crisis in Brazil

Due to the serious water crisis in the country, which is considered the worst ever recorded in the last 91 years, the National Electric Energy Agency - Aneel created, shortly after the crisis began in Brazil in September, the so-called Water Shortage Tariff Flag, which is just below the Red Flag.

With the creation of the new brand, came the weight we are paying so far: initially, the 7% increase in electricity bills for the entire population of Brazil. However, the price of electricity in the country has already risen around three times more than the inflation faced over the first eight months of this year.

Solutions for the crisis

More and more industries, corporations and even schools and universities have been developing studies and research to implement solutions in the public and private spheres, with the aim of diversifying energy generation in Brazil.

Since 2018, the growth of solar energy generated by large plants has been around 200%. According to the Ministry of Mines and Energy, in 2020 alone, even at the height of the Covid-19 pandemic, the growth of installed capacity in solar energy in the country was 66%.

About three months ago, Brazil was among the top 15 in the world ranking of photovoltaic solar energy generation and distribution, being the only country in Latin America in this world ranking, with 10 GW reached, which is equivalent to more than 70 % of the power of the Itaipu hydroelectric plant, which is the second largest in the world and in Latin America. With the mega heated cryptocurrency market, it is estimated that there are more than 24 billion investments in the solar energy generation sector in Brazilian territory.