150 MW project secured by Scatec Solar in Brazil

An agreement has been signed by Scatec Solar with the Brazilian company KromaEnergia Ltda. and its partners (“Kroma”), which has secured four PV plants totalling 150 MW (DC) co-located in the state of Ceará in Brazil.

In November 2015 the projects were bid and won by Kroma in the auction process held by ANEEL, the Brazilian Electricity Regulatory Agency.

It is expected to generate about 305,000 MWh annually with the revenues of about BRL 95 million per year (USD 28 million).

Raymond Carlsen, CEO of Scatec Solar said, “With these projects, we are securing a strong foothold in Brazil, a large and growing solar market. We see positive developments in the Brazilian economy and continued government support for renewables”.

Renewable Energy Program will be further expanded by Brazil. PPAs have already been awarded three times consecutively over the past one and a half yearsto wind power projects totalling nearly 12 GW. The government plans to award another 7 GW by 2024.

Scatec Solar ASA will build, own and operate the power plants in Ceará. The estimated Expenditure to realise the plants areBRL 720 million (USD 212 million) and can be started in 2017.

Due to the more flexible timeline for the new projects Scatec Solar has decided not to move forward with two backlog projects totalling 78 MW in Brazil.

Image Source: Scatec Solar