Brazil's AXS Energia to invest USD 191m in Minas Gerais' solar sector

Solar PV plant in Brazil

July 22 (Renewables Now) - AXS Energia, part of the same group as solar company Araxa Solar, expects to invest up to BRL 1 billion (USD 191m/EUR 162m) over the next three years in the construction of several solar plants in Minas Gerais.

Initially, AXS Energia will allocate BRL 750 million to build photovoltaic (PV) parks, with the goal of having five operational facilities by the end of 2021. In all, the firm expects to have 30 PV farms up and running in Minas Gerais in 2023.

At first, the generated solar power will be supplied to small and medium-sized businesses and companies that consume between 400 kWh and 22,000 kWh per month. After this first phase, any regular residence will also be able to become a client.

According to the company, Minas Gerais was chosen as the location for this initiative due to several favourable factors, including the state weather conditions and high potential for solar generation. The company intends to create 150 jobs by the end of 2021 and more than 1,000 in 2022.

(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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