Enel Green to invest USD 4.6bn in Brazil's Piaui in 2 years

Solar farm in Brazil. Author: Otávio Nogueira. License: Creative Commons, Attribution 2.0 Generic.

November 4 (SeeNews) - Italy’s Enel Green Power SpA will invest a total of BRL 15 billion (USD 4.6bn/EUR 4.1bn) over the next two years in renewables in the Brazilian state of Piaui, the local government said Thursday.

At the upcoming energy auction in December, the unit of Enel SpA (BIT:ENEL) plans to secure another batch of solar and wind projects in the state.

The company is currently developing the Nova Olinda II solar park, which when completed will be capable of generating 400 MW, the government highlighted. Enel Green also intends to start as soon as possible the 620-MW Lagoa do Barro wind project, with an estimated investment of USD 1.5 million (EUR 1.35m) per kW, the company's business development director, Marcio Trannin, said.

At present, Piaui is Brazil's third largest solar power producer and fourth when it comes to wind power generation.

(BRL 1 = USD 0.308/EUR 0.277)

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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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