Brazilian renewables developer Casa dos Ventos has entered into a partnership with Lightsource BP.
The duo has joined hands for the solar photovoltaic energy purchase and sale agreement as part of the ten-year partnership.
It has been reported that the latest agreement is the first step of Lightsource BP’s operations in Brazil. It will be the first solar energy project in Brazil. On the other side, it is the first long-term solar PPA for Casa dos Ventos as an energy purchaser.
The construction of the Milagres project (210MWp) has kicked off while full commercial operation is likely to be in early 2024. As per the company, the Milagres solar farm will reduce carbon emissions by 246,216 tonnes a year upon operation. The project is located in Abaiara, in the state of Ceará.
In a statement, Casa dos Ventos commercial director Itamar Lessa commented, "Our energy trading in the free market has grown rapidly, so we decided to complement our portfolio for a decade with photovoltaic energy from Lightsource BP."
Furthermore, he stated that the company earned more than R$1bn (€0.19bn) and completed more than 7TWh in the volume of energy traded in its first year of operation, a local report mentioned.
It has been reported, "With 1.3GWm traded per month, the contracts signed by the company until 2025 now total R$7.2bn."
To be noted, Casa dos Ventos has 900MW of wind farms under construction as well. Besides, it will start construction on 200MW of wind farms this year.
Meanwhile, Casa dos Ventos is considering adding 800MW of solar generating capacity to its portfolio in the near future.