Lightsource BP has entered into a 15-year energy purchase and sale agreement in Brazil.
Lightsource BP is a pioneer in the development and management of solar energy projects, while it entered into an agreement with América Energia, which is one of the largest independent energy traders.
According to the companies, the latest agreement is part of the energy portfolio generated by the Milagres solar plant with 210MWp capacity.
The plant is located in Abaiara, in the state of Ceará.
The company informed that the plant is likely to start commercial operations in 2024. It is expected to reduce the emission of 246,216 tons of carbon dioxide annually.
“The PPA with América Energia is a significant milestone in Lightsource bp's business strategy, as it facilitates financing of the Milagres solar plant, demonstrating the company's ability to partner with important renewable energy players in Brazil” Pedro Vidal, VP of Origination and Commercialization at Lightsource BP, was quoted in a statement.
He added that the company has an objective to let people have access to the benefits of solar energy: renewable, competitive and predictable.
“In addition, the partnership includes the issuance of Renewable Energy Certificates (I-RECs) for the entire period and volume sold,” he further stated.
The company plans to meet the growing demand for solar renewable energy through a large 4 GW portfolio of projects under development across Brazil.
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