Panasonic backs 500-MWp solar project for its factory in Brazil
Solar farm in Brazil. Author: Otávio Nogueira. License: Creative Commons, Attribution 2.0 Generic.
March 25 (Renewables Now) - Japan’s Panasonic Corp (TYO:6752) announced that it entered into a partnership with Brazilian decarbonisation solutions provider Pontoon Clean Tech to secure electricity from a 500-MWp solar farm for its factory in Brazil.
The parties agreed that Pontoon Clean Tech is to invest BRL 1.6 billion (USD 331m/EUR 302m) to build, manage and operate the Intrepid solar complex in the Brazilian state of Ceara. The firm will then sell solar power to Panasonic under a 15-year contract.
The Intrepid plant will consist of 935,000 panels spread over a 1,100-hectares (2,718 acres) area. Construction works are scheduled to start this year and finalise by the end of 2023, Panasonic said.
The project will benefit a home appliances factory that the Japanese electronics maker operates in the state of Minas Gerais. The Intrepid solar farm will produce enough power to meet 65% of the factory's consumption needs.
By 2024, over 60% of the total volume of electricity that Panasonic consumes in Brazil will come from solar under the self-production model. The Japanese electronics giant said that it already offsets 100% of all carbon dioxide (CO2) emissions from its activities in Brazil.