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Auren, AES Brasil Merger: Creating 8.8-GW Renewables Giant
Brazilian energy group Auren Energia SA has agreed to merge with AES Brasil Energia SA, creating a platform with 8.8 GW of renewable energy assets. The AES Corporation will sell its 47.3% equity interest in AES Brasil to Auren for about USD 640 million. Auren plans to absorb AES Brasil and make it a wholly-owned subsidiary, offering shareholders three options for payment.The sale of AES' stake in the Brazilian business is expected to be finalized within four-to-six months. AES President and CEO Andres Gluski stated that the transaction will simplify the company's portfolio and focus on supplying renewable energy to corporate customers in the US market. AES Brasil has a 5.2-GW portfolio of renewable energy assets, while Auren owns 3.2 GW of operational wind, solar, and hydropower plants. What impact will the merger of Auren Energia and AES Brasil have on renewable energy? The merger will create a renewable energy platform with a total of 8.8 GW of assets, making it one of the largest players in the Brazilian market. Auren Energia will become the sole owner of AES Brasil Energia, consolidating its position in the renewable energy sector in Brazil. The transaction will allow AES Corporation to streamline its portfolio and focus on supplying renewable energy to corporate customers in the US market. The merger will bring together a diverse portfolio of renewable energy assets, including wind, solar, and hydropower plants, contributing to a more sustainable energy mix in Brazil. The sale of AES' stake in AES Brasil to Auren for USD 640 million demonstrates the growing interest and investment in the renewable energy sector in Brazil.
May 16, 2024 // Plants, Large-Scale, Commercial, AES, Brasil, Auren
Enphase expectant of fast growth after getting in Brazilian solar market
Energy, claimed the business was collaborating with funding companions in Brazil such as Solfácil to assist increase the degree of accessibility to its
Sep 29, 2021 // Markets & Finance News, Inverters, Enphase Energy, South america, Brazil
EDP Signs Solar Power Deal with Brazilian Retailer GPA
Energias de Portugal has signed a two-year agreement to supply solar power to Brazilian retail giant GPA, which operates brands like Pao de Acucar and Extra.
Oct 22, 2024 // Plants, Large-Scale, Commercial, EDP Energias de Portugal, GPA
Brazilian buses to aid drive down price of lithium-sulfur batteries
(Li-S) battery supplier Oxis Energy has actually exposed just how Brazil's public bus fleet will certainly aid it drive down the price of its
May 13, 2020 // Manufacturing News, Storage, South america, Brazil, Oxis Energy, Huw Hampson-Jones
Norwegian triad start 531MW Brazilian PV build
building of the 531MW Mendubim solar farm in the state of Rio Grande do Norte, Brazil. The companies have additionally signed a 20-year United States
Jul 8, 2022 // Plants, Large-Scale, Commercial, Scatec, Equinor, Terje Pilskog, Hydro Rein, Olivier Girardot
WEG Wins 250-MWp Solar EPC Contract in Ceara
Brazilian electrical equipment manufacturer WEG SA has secured a BRL 630 million (USD 112 million) contract with Kroma Energia to construct a 250-MWp solar power complex in Ceara. The project, titled Arapua, will involve supplying photovoltaic modules, trackers, inverters, and building a power substation along with connection infrastructure.Located in the Vale do Jaguaribe area of Jaguaruana municipality, the solar park is projected to begin commercial operations in the first quarter of 2026. It is anticipated to generate approximately 537 GWh of electricity annually, contributing significantly to Brazil's renewable energy landscape. What are the key details of WEG SA's solar project in Ceara, Brazil? - **Project Title**: The solar power complex is named "Arapua" and is set to become a significant renewable energy installation in Brazil.- **Contract Value**: WEG SA has entered into a contract worth BRL 630 million (around USD 112 million) with Kroma Energia for this ambitious project.- **Capacity**: The solar complex will have a total capacity of 250 megawatts peak (MWp), which positions it as a major contributor to the region's energy supply.- **Location**: The project will be located in the Vale do Jaguaribe region within the municipality of Jaguaruana, Ceará, which has been identified as a suitable area for solar energy generation due to its high solar irradiation.- Components to be Supplied:- Photovoltaic Modules: These will convert sunlight into electricity.- Trackers: Solar trackers will optimize the angle of the solar panels to maximize energy capture throughout the day.- Inverters: These devices will convert direct current (DC) generated by the solar panels into alternating current (AC) for grid use.- Infrastructure Development: In addition to solar equipment, the project will include the construction of a power substation and the necessary connectivity infrastructure to integrate the solar energy produced into the local grid.- Operational Timeline: Commercial operations for the Arapua project are expected to start in the first quarter of 2026.- Annual Energy Generation: The installation is projected to generate approximately 537 gigawatt-hours (GWh) of electricity annually, playing a vital role in meeting local and national energy demands.- Environmental Impact: The project aligns with Brazil’s strategic goals for expanding renewable energy sources, helping to reduce carbon emissions and reliance on fossil fuels.- Economic Impact: The construction of the solar complex is likely to create job opportunities in the area, supporting local economies during the construction and operational phases.- Investment in Renewables: The Arapua project is part of a broader trend of investment in renewable energy technologies in Brazil, positioning the country as a leader in solar energy in Latin America.- Collaboration Opportunities: The partnership between WEG SA and Kroma Energia may open doors for future collaborations in renewable energy projects, further contributing to the growth of the sector.
Sep 4, 2024 // Plants, Large-Scale, Commercial, Ceara, WEG SA
EDPR Reports 5% Growth in Renewables Production
generation was hindered by below-average wind resources, particularly in Brazil, and some curtailments in the U.S. and Spain. The company anticipates most new
Oct 18, 2024 // Markets & Finance News, EDPR
Voltalia reveals 1.5 GW Brazilian PV strategies
unveiled plans for an over 1500MW solar energy complex called Arinos in the Brazilian state of Minas Gerais. The business claimed Arinos will certainly be
Jun 27, 2022 // Plants, Large-Scale, Commercial, Voltalia, South america, Brazil
Voltalia Sells 420MW Brazilian Solar Project to Newave Energia
of wind, solar and energy storage projects, has sold a 420MW solar project in Brazil to Newave Energia, a joint venture between Gerdau and Newave FIP. The project
Oct 10, 2023 // Markets & Finance News, Voltalia, South america, Brazil, PV Power Plant
Iberdrola sees earnings soar with worldwide business offsetting Spain's results
of which 326MW of solar PV in the most recent renewable auction-- as well as Brazil assisted the business increase its profits by 35.5% year-on-year. The
Jul 29, 2022 // Markets & Finance News, USA, Spain, UK, Iberdrola, solar pv, South america, Europe, financial results, Brazil, North America, distribution network, transmission network
Canadian Solar bags financing to seek flexible Brazilian solar method
Solar has counted on Brazilian financial institutions BTG Pactual and also Itaú BBA for the facility, which will be made use of to fund up to 70% of
Jul 27, 2021 // Markets & Finance News, Canadian Solar, South america, Brazil, Shawn Qu, BTG Pactual, Itau BBA
Equinor enhances stake in Scatec
entered its very first solar growth project in 2017 using the Apodi asset in Brazil, complied with by a 2nd joint project in June 2018 with the Guanizul 2A in
Mar 16, 2023 // Markets & Finance News, Scatec, Equinor
Latin America Booms With Sungrow's 15GW Solar Surge
supplier, announced orders in the region have reached 15 GW, largely driven by Brazil at 10 GW. The Company introduced several innovations including string
Sep 4, 2023 // Markets & Finance News, Sungrow, Latin america, storage inverters
ArcelorMittal Acquires Majority Stake in Brazilian Solar Firm
has acquired a 55% stake in Brazilian solar holding BBC Solar Subholding SA, after receiving approval from Brazil's competition regulator, CADE.
Sep 19, 2024 // Markets & Finance News, arcelormittal, Brazilia, Solar Firm
Enel Green Power acquires 610MW of Soltec trackers for projects in Peru as well as Colombia
usage the SF7 trackers for its 475MW São Gonçalo project in Brazil, a facility that started operations in very early 2020. On the current offer,
Jan 19, 2022 // Markets & Finance News, South america, trackers, enel green power, Soltec, Powertis, Peru, Colombia