Neoenergia Signs Contract With Ambev to Supply Renewable Energy for 10 Years

Written by Corporativo

Published on 06/07/2022 at 13:02

Imagem: Via Neoenergia

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Contracting in the Free Market Is in the Long-Term PPA Model and Also Includes the Issuance of I-RECs

Neoenergia closed a contract with Ambev for the sale of renewable energy in the free market for ten years, demonstrating the commitment of both companies to sustainable development. The agreement is in the long-term PPA model (in English, Power Purchase Agreement) and provides for the supply of 55 MW average, from 2024 to 2033, from wind source.

In addition, the partnership includes the issuance of Renewable Energy Certificates (I-REC, in English acronym) for the entire period. The contract totals 4.8 TWh of renewable energy over ten years, equivalent to 4.8 million I-RECs.

The use of clean energy is one of the main factors that integrate ESG practices (the English acronym for environmental, social, and governance aspects) increasingly demanded by global markets. “This contract reflects our growth in the Brazilian free energy market, an expansion aligned with our sustainable purpose. We are pioneers in the energy transition in the country, and agreements like this allow us to increase our investments in renewable sources, helping with decarbonization and in line with our ESG practices and in meeting our customers’ needs”, says the Director of Liberalized Business at Neoenergia, Hugo Nunes.

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The PPA model used in the contract with Ambev integrates Neoenergia’s expansion strategy in the Free Contracting Environment (ACL). Agreements like this have the advantage of ensuring long-term revenue, mitigating project risk, and fostering the expansion of renewable sources.

Furthermore, the issuance of I-RECs serves as a value generation vector for the customer by providing assurance of sustainability and traceability, ensuring that the energy comes from a clean source. This is a widely adopted form in the global market to demonstrate sustainable energy practices and offset greenhouse gas (GHG) emissions, which can be reported alongside sustainability indices of stock exchanges.

Neoenergia has been strengthening investments in clean energy, focusing on wind and solar. With the completion of the Chafariz (PB) and Oitis (PI and BA) complexes, installed capacity in wind will reach 1.6 GW this year, triple what it was in 2020. The company is also building its first centralized generation photovoltaic project, the Complex Solar Luzia (PB), which has operational synergy with Chafariz and will have an installed capacity of 149.3 MWp fully allocated to the free market, with part already sold in another PPA contract. As a result, in 2022, the company will reach 90% of its generation portfolio in renewables, an even cleaner profile than the Brazilian energy matrix.

About Neoenergia

Publicly traded company with shares (NEOE3) listed on the São Paulo Stock Exchange. Part of the Spanish group Iberdrola, the company has operated in Brazil since 1997, currently being one of the leaders in the country’s electricity sector. Present in 18 states and the Federal District, its businesses are divided into generation, transmission, distribution, and commercialization. Its distributors, Neoenergia Coelba (BA), Neoenergia Pernambuco (PE), Neoenergia Cosern (RN), Neoenergia Elektro (SP/MS), and Neoenergia Brasília (DF) serve more than 15 million customers, equivalent to a population of over 37 million people.

Neoenergia has 4 GW of installed capacity in generation, with 88% from renewable energy, and is implementing an additional 0.7 GW with the construction of new wind and solar parks. In transmission, there are 2,300 km of lines in operation and 4,300 km under construction. Through the Neoenergia Institute, it promotes sustainable development through socio-environmental actions, thus contributing to improving the quality of life in the communities where the company operates, especially for the most vulnerable people, always aiming for sustainable development. As part of its commitment to increasing women’s participation in society, the company supports the Brazilian women’s national soccer teams and the Neoenergia Women’s Brasileirão championship. Since January 2021, it has been part of the portfolio of the Corporate Sustainability Index of B3 – Brazil, Bolsa, Balcão – which brings together companies with the best corporate governance and sustainability practices.

Source: Neoenergia Press

Neoenergia Signs Contract With Ambev to Supply Renewable Energy for 10 Years

Contracting in the Free Market Is in the Long-Term PPA Model and Also Includes the Issuance of I-RECs

About Neoenergia

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Neoenergia Signs Contract With Ambev to Supply Renewable Energy for 10 Years

Contracting in the Free Market Is in the Long-Term PPA Model and Also Includes the Issuance of I-RECs

About Neoenergia

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Is a smart plug worth it in a regular home? What does it offer: turns on and off via smartphone, creates routines by schedule, prevents forgotten devices, sometimes monitors consumption, and improves habits without renovation or miracles.

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