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Banco do Brasil looking to contract 8 GWh of DG solar per year

Solar panels. Author: Frédéric BISSON. License: Creative Commons, Attribution 2.0 Generic.

September 9 (Renewables Now) - Brazilian national bank Banco do Brasil SA (BVMF:BBAS3), also knows as BB, is holding three bidding rounds on September 10 and 11, 2019 to contract 8 GWh of solar power from distributed generation (DG) systems.

BB is the first institution in the public sector to embrace the DG lease model for power supply, the bank said on Friday.

More specifically, the lender is looking to contract a minimum of 4 GWh per year for the country's capital and 2 GWh for its operations in Goias and Para states, each. With this measure, Banco do Brasil expects to achieve savings of up to BRL 20 million (USD 4.92m/EUR 4.42m) for its electricity bills at 96 branches in the said states.

BB will start making payments under the lease agreements after the DG plants are up and running. All the output generated will be directed to the general grid with the electricity being deducted from BB's total consumption.

(BRL 1 = USD 0.246/EUR 0.221)

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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.

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