Lightsource BP signs first Brazilian solar PPA

May 31, 2022 03:41 PM ET
  • Agreement with Casa dos Ventos for 210MWp Milagres project which as a result of come online in 2024
Lightsource BP signs first Brazilian solar PPA
Image: Lightsource BP

Brazilian renewables developer Casa dos Ventos, has entered into a solar photovoltaic power purchase and also sale agreement with Lightsource BP.

The ten-year partnership is the very first lasting solar PPA that Casa dos Ventos has authorized as an energy purchaser as well as marks the start of Lightsource BP's operations in Brazil, with its very first solar power project.

Casa dos Ventos commercial supervisor Itamar Lessa stated: "Our energy trading in the free enterprise has actually grown rapidly, so we decided to complement our portfolio for a decade with photovoltaic energy from Lightsource BP."

He added that in its very first year of procedure the investor earned greater than R$ 1bn (EUR0.19 bn) as well as completed more than 7TWh in the volume of power traded.

With 1.3 GWm traded each month, the agreements signed by the business up until 2025 currently total R$ 7.2 bn.

Construction of the Milagres project (210MWp), in Abaiara, in the state of Ceará, has actually started, with full commercial procedure expected in very early 2024.

Around 800 direct jobs will be developed at the height of the building and construction, with a top priority of hiring labor among neighborhood homeowners.

Along with job development, Lightsource BP will certainly invest in social and ecological projects in the Cariri region, where the project is being developed.

When operating, the Milagres solar farm will reduce carbon emissions by 246,216 tonnes a year, equivalent to diesel usage by greater than 57,000 automobiles, adding to a clean, renewable environment.

Casa dos Ventos likewise has 900MW of wind farms unfinished which will enter procedure in the initial fifty percent of 2023.

The company will additionally begin building and construction on 200MW of wind farms this year which will enter procedure in 2024.

All these assets have signed long-term agreements with big customers, several of them in self-production mode.

In addition to the purchase of solar power from Lightsource BP, Casa dos Ventos plans to add 800MW of solar creating capacity to its portfolio in the coming years.

Of this total amount, 400MW will certainly be contributed to wind farms in the Northeast, making them hybrid models.

The other half of the power will come entirely from solar generating plants in the Southeast/Center-West submarket.

Itamar explained that solar contracts are of interest because they enhance other resources.

He claimed: "It is a method to make our wind portfolio a hybrid as well as tailor the most effective power for our companions."

Lightsource BP's nation manager in Brazil Ricardo Barros added: "This project showcases our ability to companion with major players in the renewable energy market, being cutting-edge and creating worth for our service.

" Lightsource BP sees our country as a key market to achieving its renewable resource generation goals, as well as we have a considerable market to explore.

" We presently have projects under development in Brazil totaling 4GWp of generation capacity."

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