- Press Releases
June 1 (Renewables Now) - Faro Energy, a Brazilian solar power company, and telecommunications firm TIM Participacoes SA (BVMF:TIMS3) have signed a contract linked to 25 MWp of solar projects in Brazil.
Faro Energy will invest BRL 100 million (USD 19.1m/EUR 15.6m) in the construction of 15 photovoltaic (PV) parks. The firm will also provide operation and maintenance (O&M) services.
Currently, 10 of the 15 solar parks are already operational, supplying clean power to TIM's facilities in Paraiba, Pernambuco, Ceara and Tocantins states. The remaining five, located in the Federal District and Rio Grande do Norte, are scheduled to come online later in June.
TIM expects that once all solar plants are up and running they will be able to generate more than 45 GWh per year, equivalent to the annual power consumption of over 20,000 local homes.
According to Chief Business Support Officer (CBSO) Bruno Gentil, TIM plans to end 2022 with 60 operational parks, thus producing enough clean energy to monthly power a city with 150,000 inhabitants.
(BRL 1.0 = USD 0.191/EUR 0.156)