Brazil okays 304 MW of EDP solar projects to enter REIDI scheme

Brazil has allowed 303.8 MW of solar projects owned by EDP Renovaveis SA (ELI:EDPR) to enter the national Incentive Regime for Infrastructure Development (REIDI).

After being allowed to enter REIDI, the domestic arm of the Portuguese renewable energy giant will invest over BRL 567.3 million (USD 97.8m/EUR 90.5m) to construct these plants, saving close to BRL 58 million.

All the facilities are to be located in Rio Grande do Norte state, with construction scheduled to commence in October 31, 2022 and commissioning expected to occur by January 31, 2024.

More details on the plants are available in the table below.

REIDI, launched in 2007, grants tax incentives to companies investing in infrastructure projects within the transport, energy, sanitation and irrigation sectors.

(BRL 1 = USD 0.172/EUR 0.159)

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