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A New Solar Plant, Resulting from the Partnership Between SPIC Brazil and Recurrent Energy, Will Be Installed in Pernambuco, with Million-Dollar Investments. The Project Will Have the Capacity to Supply Up to 140,000 Homes Per Year, Marking a Significant Step in the Expansion of Solar Energy in Brazil.
SPIC Brazil and Recurrent Energy, a company that is part of the Canadian Solar Group, announced on Monday (4) a new partnership involving an investment of approximately R$ 400 million in a new solar plant featuring more than 150,000 solar panels, named Luiz Gonzaga, located in the municipality of Terra Nova (PE), in which SPIC Brazil will have a 70% stake.
New Solar Plant in Pernambuco Will Produce Enough Energy to Supply 140,000 Homes Per Year
With 114 MWp and 166,000 solar panels, SPIC Brazil’s project in Pernambuco has the capacity to supply about 140,000 homes. The new solar plant is scheduled to begin commercial operations later this month.
This is SPIC’s third solar project in the country, following its entry into the segment with the Marangatu and Panati Complexes, in Brasileira (PI) and Jaguaretama (CE) respectively, inaugurated in June 2024.
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According to SPIC Brazil’s CEO, Adriana Waltrick, this new investment in Pernambuco represents a continuation of its expansion in clean energy projects in the Brazilian Northeast, aiming to create a cluster and share synergies in the region.
The new solar plant Luiz Gonzaga complex has energy sale contracts in place that total over 90% of the generation until 2033, partly in the Regulated Market and partly in the Free Energy Market. Waltrick states that she remains focused on quality growth, aiming to advance and expedite the energy transition agenda.
Recurrent Energy Comments on New Solar Plant in Pernambuco with Over 160,000 Solar Panels
SPIC Brazil’s complex obtained financing of R$ 170 million from BNB with a term of 24 years. In the country, SPIC has invested over R$ 14 billion in seven years of operation. In addition to the Marangatu, Panati, and Luiz Gonzaga plants, the company also currently has over 1.7 GW under construction (participation in GNA II, at the Port of Açu) and other renewable projects planned.
Globally, SPIC is the largest solar energy generator, with an installed capacity exceeding 70 GW, and considers Brazil its largest market outside of China. With the addition of the new solar plant, SPIC Brazil’s installed capacity in the country reaches approximately 4 GW, with over 60% coming from renewable sources.
The General Manager of Recurrent Energy in Latin America, Gustavo Vajda, emphasized the company’s commitment to contributing to the expansion of clean energy in Brazil and stated that the company is pleased to expand its partnership with SPIC Brazil.
These projects reinforce its commitment to expanding clean energy generation in Brazil, providing clean and sustainable energy solutions for the country. The expectation is to further contribute to the development of renewable energies and advance its mission to create a more sustainable future for all.
About SPIC Brazil’s Project in Piauí
In June, the inauguration of the Marangatu Solar Complex took place in the municipality of Brasileira, a SPIC Brazil project. It is a giant park, with over 700 MWp across two phases, further consolidating Piauí’s prominence in the energy transition.
The inaugurated park has a capacity to generate 446 MWp, enough to supply about 550,000 homes per year. According to the governor, the installation of this project exceeded expectations, generating more than 2,000 direct and indirect jobs, with 80% of the workforce being local.
According to the governor, the installation of another plant allows Piauí to attract this green products industry, starting with the production of green hydrogen, followed by the production of ammonia, methanol, green steel, and green fertilizers.
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