Gerdau and Newave Energia Unveil Massive Solar Project in Brazil

• Gerdau SA and Newave Energia are teaming up to construct a massive solar park in Brazil, powering Gerdau's steel manufacturing and reducing their carbon footprint.

Brazilian steel producer Gerdau SA and renewable power producer Newave Energia have begun construction on a 420-MWp solar park in Minas Gerais state. The Arinos Solar Park will require an investment of BRL 1.5 billion ($302m) and is expected to be completed by the end of the year. Once operational, 30% of the park's output will be used to power Gerdau's steel manufacturing in Brazil. The solar park's full capacity is equivalent to 7% of Gerdau's total energy consumption in the country. Gerdau owns a 33.33% stake in Newave Energia through its unit Gerdau Next SA.

The groundbreaking ceremony for the solar park was attended by various government and company officials, including Brazilian President Lula and Gerdau CEO Gustavo Werneck.

What is the capacity of the Arinos Solar Park and its significance for Gerdau?

• The Arinos Solar Park has a capacity of 420 MWp.
• The solar park is being constructed in Minas Gerais state, Brazil.
• The project requires an investment of BRL 1.5 billion ($302m).
• The construction is expected to be completed by the end of the year.
• Once operational, 30% of the park's output will be used to power Gerdau's steel manufacturing in Brazil.
• The solar park's full capacity is equivalent to 7% of Gerdau's total energy consumption in the country.
• Gerdau owns a 33.33% stake in Newave Energia through its unit Gerdau Next SA.
• The groundbreaking ceremony for the solar park was attended by various government and company officials, including Brazilian President Lula and Gerdau CEO Gustavo Werneck.
• The project signifies Gerdau's commitment to renewable energy and reducing its carbon footprint.
• The solar park will contribute to Brazil's renewable energy goals and help diversify its energy mix.
• The project will create jobs and stimulate economic growth in the region.
• The solar park will contribute to reducing greenhouse gas emissions and mitigating climate change.