Solar Provider Group plans to invest $250 million in Brazil
Post date: 22/01/2020 - 09:40
Solar Provider Group (SPG), a Toronto, Canada based global solar development company, has arranged a team to enter the Brazilian solar market with the goal to complete investments totaling $250 million over the next five years. SPG is looking for local development partners in Brazil, as well as corporations with significant energy costs that are interested in buying solar power at a discount compared to current retail prices. With its financing, structuring, engineering and development expertise, SPG is looking to build relationships with Brazilian solar companies that excel at permitting and development on a local level.
According to the company, the solar market in Brazil is growing exponentially, with 3.3 GW deployed in 2019 alone, 44 percent growth since 2018, and an estimated 126 GW by 2040. »Public opinion and support has been essential for this substantial growth.« In a recent survey by Ibope Inteligencia, 93 percent of Brazilians want to produce their own renewable electricity at home. Additionally, in a 2015 survey done by DataSenado, 85 percent of Brazilians supported more public investments in renewable energies, such as solar and wind. The Government’s goal is to attract $8 billion in private direct investments, generating more than 160,000 new jobs.