Galp acquiring approximately 4.6 GWp of solar projects in Brazil

May 4, 2022 01:24 PM ET
  • Oil as well as gas firm Galp is getting a portfolio of under advancement solar plants in Brazil with an incorporated capacity of approximately 4.6 GWp.
Galp acquiring approximately 4.6 GWp of solar projects in Brazil
Image: Galp

A contract with Brazilian programmer SER Energia will see Galp acquire the assets, which will be created throughout Brazil. It is likewise getting 216MW of wind farms under growth in the nation.

The company is "rebalancing our organizations in the nation according to our clean power change aspirations, leveraging on Brazil's huge renewable resource potential", stated Georgios Papadimitriou, Galp's renewable resource and brand-new services COO.

The offer follows Galp going into Brazil's renewables market last October with the procurement of 2 collections of solar projects under development in the Bahia and Rio Grande do Norte states from SER Energia. With a total capacity of 594MWp, those assets are anticipated to be operational by 2025.

Galp last year additionally safeguarded lendings from the European Investment Bank to support the construction of more than 2.1 GWp of solar projects in Spain and Portugal.

With the most up to date procurement, the business's complete renewables growth portfolio has reached 9.6 GW, situated in Brazil, Spain and Portugal, supporting the business's objective of having 4GW of running renewables capacity by 2025 and 12GW by 2030.

Various other announcements in Brazil's solar market this year include oil and gas major Covering and also steel company Gerdau creating a joint endeavor for the development and also procedure of a 260MWp PV project in the state of Minas Gerais while independent power producer Scatec disclosed plans for a 532MW project in Rio Grande do Norte.

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