Brazil’s 2W Energia to supply local bank with renewable power

Brazilian energy trader 2W Energia announced on Tuesday it was selected as the winner in a tender to provide renewable energy to domestic lender Banco do Estado do Rio Grande do Sul SA (BVMF:BRSR6), also known as BANRISUL.

Under the terms of the agreement, the energy company will supply about 100 BANRISUL branches with clean electricity certified under the International REC Standard (I-REC) in Brazil’s free market.

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The contracted electricity totals more than 140 GWh which will be delivered between October 2022 and December 2031.

2W Energia did not reveal the sources of renewable energy that will be supplied to the bank. According to its website, the power company has more than 2 GW of solar and wind parks in its portfolio.

Porto Alegre-based BANRISUL is active in southern Brazil with operations focused mainly on the state of Rio Grande do Sul.