Enel to invest 355M USD to build 388 MW solar PV plant in Brazil

Italian utility Enel., acting through its Brazilian renewables subsidiary Enel Green Power Brasil Participações Ltda. (“EGPB”), announced yerterday that it has been awarded the right to sign 20-year power supply contracts in the country with a new solar PV project of 388 MWdc1, following the A-4 public tender organised by the Brazilian federal government via the country’s energy regulator ANEEL. The Enel Group is expected to invest nearly 355 million US dollars in the construction of the plant, in line with the investment outlined in its current Strategic Plan.

The award, equal to 49% of the 791 MWdc of PV capacity offered in the tender, places Enel ahead of any other solar energy bidder.

Antonio Cammisecra, Head of Enel Green Power said:

“The success of this tender marks another step forward for the Enel Group in Brazil, where we are already one of the leaders of the renewables market. The 388 MW we have just been assigned is the beginning of a new wave of investments of our Group in Brazil. This latest win, together with our other notable successes during 2017, underscores our clear financial and technology leadership in the global renewable energy sector.”

The São Gonçalo solar plant will be supported by 20-year power supply contracts, which provide for the sale of specified volumes of energy generated by the facility to a pool of distribution companies operating in the Brazilian regulated market. São Gonçalo will be built in the São Gonçalo do Gurguéia municipality, in the State of Piauí. The plant is expected to start operations in early 2021 and to generate more than 850 GWh of renewable energy each year once fully up and running.

In Brazil, the Enel Group, through its subsidiaries EGPB and Enel Brasil, has a total installed renewable capacity of nearly 2,660 MW, of which 670 MW from wind power, 716 MW from solar PV and 1,270 MW from hydropower, as well as close to 172 MW of wind and 103 MW of solar capacity currently under construction.

Source: Press Release by Enel. Photo Credit: © Enel.