Brazil's Lisarb Energy signs lease for 20 MW of solar projects

Brazilian solar developer Lisarb Energy has signed 15-year lease contracts for 20 MW of new solar parks with local sugar and ethanol producer Raizen.

Lisarb today said that it plans to invest USD 20 million (EUR 16.5m) to develop four new 5-MW photovoltaic (PV) projects. Two of them are to be located in the state of Rio de Janeiro, one in Goias and one in the country's Federal District.

“Raízen has established a leadership position in bioenergy across Brazil and we’re delighted to help the company add to its extensive energy portfolio with new solar,” said Jamie MacDonald-Murray, Lisarb Energy chairman.

The company expects to have the projects completed and commissioned by March 2022.

Once up and running, the new plants should be able to generate 38,700 MWh of green electricity per year for the duration of the contracts.

So far, the Brazilian solar company has secured land for 3 GW of PV projects at home, according to the statement.

Solar power is expected to account for 38% of the Brazilian electricity mix by 2050, producing 125 GW, Lisarb said citing forecast from local solar power association ABSOLAR.

Raizen is a joint venture between Brazilian sugar, ethanol and fuel sector player Cosan SA (BVMF:CSAN3) and Royal Dutch Shell Plc (AMS:RDSA).

(USD 1.0 = EUR 0.825)

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