June 10 (Renewables Now) - Celeo Redes Brasi expects solar panel installations at its 233-MWp Sao Joao do Piaui Solar Complex to commence in August, the Piaui state government said Saturday.
Celeo, a joint venture between Spanish power company Elecnor SA (BME:ENO) and Dutch pension fund manager APG Asset Management NV, is to invest BRL 747 million (USD 192.6m/EUR 170m) in the project. Comprised of six solar farms, offtake contracts for part of the complex were secured back in April 2018, through a federal tender.
According to Marcelo Vinicius, director of New Business Development and Sustainability at Celeo Redes, the company is studying the possibility of doubling its investments in renewable energies in Piaui due to the significant support provided by the local government.
(BRL 1 = USD 0.26/EUR 0.23)