Powertis invest in 765 MW in solar plants in Brazil

Spanish Powertis SA, PV developer of large-scale projects in Europe and Latin America, is developing a 765 MW photovoltaic solar portfolio in the states of Minas Gerais and Sao Paulo, in Brazil. The portfolio consists of one project of 495 MW and three projects of 90 MW each. The Spanish company Soltec will be supplying solar trackers in all plants and facilitating installation and construction services. These projects will need an investment of about BRL 2.500 million ($0.6 million).
This portfolio has energy sales contracts (PPA, Power Purchase Agreements) with two Brazilian frontline off-takers that will allow the operation of the plant by Powertis until the end of 2041. The plants will be financed by Banco Nacional de Desenvolvimento Econômico e Social and Banco do Nordeste, with an expected financial closing date in Q4 2019 and Q1 2020. The projects will begin operations in January 2021 and January 2022.
Powertis expects that the construction of these solar plants will create more than 7,200 direct and indirect jobs during installation and construction phases, which will be complemented by more than 160 permanent direct and indirect jobs when the plant is in operation.
In February, the company said that Powertis will develop 2 GW of solar PV over the next three years in Brazil and Spain, 1 GW per country.

Related News