SunEdison has announced plans to develop, own and operate 1 GW of solar power plants in Brazil in conjunction with Renova Energia.
The two firms will create a joint venture firm to develop the power plants, which will supply the Brazilian Regulated Electricity Market. They are planning to commission their first four utility-scale plants in Bahia state by 2017.
“Renova's joint venture with SunEdison positions us as the best entity to serve the needs of the Brazilian renewable energy market," said Mathias Becker, President of Renova, the largest renewable energy company in Brazil. "This opportunity to enter the solar energy market has been two years in the making."
The joint venture will install 106.9 MW of solar by 2017 as part of contracts awarded by the Brazilian Energy Commercialization Authority, Camara Comercializadora de Energia Electrica (CCEE). The contracts were awarded in the 2014 Reserve Supply Auction (2014 LER), the first renewable energy auction in Brazil to specify a need for solar power plant capacity.
SunEdison will supply solar modules and trackers for the projects, to be assembled in Brazil, and solar plant construction will be financed by the Brazilian Development Bank (BNDES).
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