Brazilian company Atua Energia to invest US$190mn in solar power

Brazilian Energy Company Atua Energia is considering investing 1 billion reais (US$190mn) in PV solar power.

According to the company president Jorge Maciel, the company plans to put this money in Brazil by 2024. The company is part of the Incospal group, which comprises hydroelectric, wind power and thermal plants.

The company has targeted 250MWp of distributed generation plants in different parts of the country. It includes Rio de Janeiro, Minas Gerais, Bahia, Sergipe, Paraíba, Rio Grande do Norte, Ceará, Pernambuco, Maranhão and Piauí states.

As per the company, initially the projects are being developed in Nova Friburgo and Cambussi municipalities, in Rio de Janeiro.

"This state alone will receive 15 plants totaling 150mn reais with installed capacity of 2-2.5MWp," a report mentioned.

Company President Jorge Maciel was quoted in a local report, “The savings can reach 20% of the energy bill, with zero investment required. And we take care of the operation and maintenance services. There is also the issue of the green seal for companies, which will have 100% of their consumption based on renewable sources.”

According to Atua Energia, it plans to develop 2GW of centralized solar plants after 2024. The plants will be built in the northeast with a total investment of 10bn reais.

The company informed that most of the investments belong to their own capital, while some of the financing will be from development banks.