Sep 19 (Renewables Now) - Italian energy group Enel SpA (BIT:ENEL) announced on Monday the start-up of operations of two solar power plants in northeastern Brazil totalling 546 MW.
The photovoltaic (PV) facilities, namely the 254-MW Ituverava and the 292-MW Nova Olinda, are operated by Enel Green Power Brasil Participacoes Ltda (EGPB). The Italian group says they are currently the biggest PV parks in South America. They will be operated under a 20-year power purchase agreement (PPA) with the Brazilian Chamber of Commercialisation of Electric Energy.
Situated in Bahia state’s Tabocas do Brejo Velho municipality, the Ituverava plant comprises 850,000 PV panels whose expected annual output of over 550 GWh is estimated to be enough to supply over 268,000 local households each year. Its construction required an investment of USD 400 million, financed through Enel’s own resources and long-term debt by Bank of China (HKG:3988) and Banco Santander (BME:SAN), backed by China Export & Credit Insurance Corp.
The Nova Olinda PV facility, located in Ribeira do Piaui municipality, in the state of Piaui, was built at a cost of nearly USD 300 million (EUR 251m). The financing was provided from Enel’s own resources and long-term debt by local lender Banco do Nordeste do Brasil. The 292-MW park uses nealy 930,000 modules, expected to generate over 600 GWh of electricity per year, which is seen to be equal to the consumption of 300,000 local homes.
Enel has 2,276 MW of renewables capacity in Brazil, of which 670 MW wind and 716 MW solar, and is building an additional 275 MW, the Italian group said.
(USD 1.0 = EUR 0.837)