- Press Releases
July 19 (Renewables Now) - The Brazilian unit of oil and gas major Royal Dutch Shell Plc (AMS:RDSA) has partnered up with local steel producer Gerdau SA (BVMF:GGBR4) to develop a 190-MW direct current (DC) solar project in Minas Gerais state.
The companies have signed an agreement establishing the guidelines for the implementation of a 50/50 joint venture (JV) in relation to the project.
Aquarii, as the solar farm is named, will supply part of its output to Gerdau's steel manufacturing units. The rest will be traded on the Brazilian free market from 2024.
This is the first PV project that the oil major has in the South American country, Shell Brasil’s director of renewables and energy solutions, Guilherme Perdigao, said.
According to the company, Shell plans to develop solar projects in the state of Paraiba as well.