Brazil's Ibitu Energia starts work on 1-GW solar complex in Piaui

Solar PV plant in Brazil

January 17 (Renewables Now) - Brazilian renewable energy company Ibitu Energia has commenced construction works on a 1-GW solar power complex in Piaui state, the local government announced on Friday.

With an initial investment of BRL 1 billion (USD 181m/EUR 158m), the photovoltaic (PV) project has a total cost of BRL 4 billion and will be built in three stages.

Named Caldeirao Grande 2, the plant will feature 2.5 million solar panels spread over an 800-hectare (1,976.8 acres) area in the municipality of Caldeirao Grande. The project will create 900 jobs during each of the three construction phases.

According to governor Wellington Dias, the government is prioritising renewable energy projects, which in turn helps to boost the development of the whole state.

At present, Ibitu Energia's renewable portfolio consists of five wind farms and three hydropower plants (HPPs) with a combined capacity of 832.2 MW. The firm is also studying the development of new wind, solar or hybrid generation projects that could amount to more than 1.2 GW.

(BRL 1.0 = USD 0.181/EUR 0.158)

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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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