Brazilian food co BRF signs deal for 320-MWp solar development

Brazilian solar park

September 17 (Renewables Now) - Brazilian food company BRF SA (BVMF:BRFS3) has partnered up with local firm Intrepid Participacoes SA for the construction of a 320-MWp solar farm in Ceara state.

To be developed through a jointly held holding company, the photovoltaic (PV) project will require an investment of BRL 1.1 billion (USD 210m/EUR 179m), of which approximately BRL 50 million will come from BRF's coffers.

Operation is expected to commence by 2024.

The food company said it has also signed with Intrepid a call option agreement and a 15-year power purchase agreement (PPA) for 80 average megawatts (MWa) to be sourced from the PV park.

Together with the deal inked last month with Brazilian energy firm AES Brasil (BVMF:AESB3), and BRF's current renewable portfolio, the firm will meet 88% of its energy needs in Brazil with clean sources, it noted.

(BRL 1.0 = USD 0.191/EUR 0.162)

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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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