Enel to build 54.4 MWp of DG solar arrays for Brazil's Itau bank

• Enel Brasil, via its power services unit Enel X, will set up 54.7 MWp of solar photovoltaic (PV) systems in Brazil for local loan provider Itau Unibanco SA (BVMF: ITUB4).

Itau has likewise authorized an eight-year power purchase agreement (PPA) with Enel Trading for near to 1 TWh of power.

The newly-contracted solar portfolio includes 46 distributed generation (DG) systems making up over 75,000 panels in total. They are expected to create sufficient power for 1,557 bank branches in 14 areas. Enel will also collaborate the purchase of power on the free enterprise for an additional 564 branches.

The solar plants are expected to start operations in around one year.