Shell, Gerdau to develop 190-MW solar project in Brazil
Jul 19, 2021 02:55 PM ET
- The Brazilian device of oil as well as gas significant Royal Dutch Shell Plc (AMS: RDSA) has actually partnered up with local steel manufacturer Gerdau SA (BVMF: GGBR4) to create a 190-MW direct existing (DC) solar project in Minas Gerais state.
The firms have authorized a contract developing the guidelines for the application of a 50/50 joint venture (JV) in relation to the project.
Aquarii, as the solar farm is named, will provide part of its output to Gerdau's steel making devices. The remainder will certainly be traded on the Brazilian free market from 2024.
This is the first PV project that the oil major has in the South American nation, Shell Brasil's supervisor of renewables and also power options, Guilherme Perdigao, stated.
According to the company, Shell plans to establish solar projects in the state of Paraiba also.
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