Brazil allows 120 MW of solar projects to issue debentures

The Brazilian Ministry of Mines and Energy has allowed the four Solaire Paracatu photovoltaic (PV) projects, with a combined capacity of 120 MW, to issue infrastructure debentures.

With the permits, the schemes now have the status of priority projects which is needed to speed up their implementation, according to decrees published by the national power sector watchdog Aneel.

The Solaire Paracatu I, II, III and IV PV projects, each of 30 MW, will be completed by November 1, 2018 in Minas Gerais state. The solar complex is being developed by Solairedirect, a unit of local utility Engie SA (EPA:ENGI), Aneel stated in the government decree.

The plants were secured back in December 2015, when Solairedirect won in an auction the right to develop two solar parks with capacities of 80 MW and 120 MW, located in the states of Rio Grande do Norte and Minas Gerais respectively.

Choose your newsletter by Renewables Now. Join for free!