Private equity fund Appian Capital Advisory LLP and Brazilian renewable energy firm Detronic Energia will form a joint venture (JV) to build 62.4 MWp of solar plants in Brazil's Minas Gerais state.
Appian said on Thursday that the photovoltaic (PV) portfolio is comprised of 20 ready-to-build projects.
Development of the sites is set to commence in the second quarter of this year.
In addition to these planned solar projects, Appian and Detronic are currently evaluating opportunities to build additional solar farms in the former's mining operations across Brazil.
Detronic Energia will lead the construction of the solar farms. The company currently has 34 solar farms recently built and connected to the grid, as well as another 47 under construction.
With 2.5 GWp already installed, Minas Gerais is the largest distributed generation market in Brazil at present.
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Lucas is based in Brazil. He joined Renewables Now to expand coverage of the Ibero-American market, a highly attractive destination for green energy investment.