May 22 (Renewables Now) - Brazil has allowed 589.32 MW of solar projects owned by Spanish renewables firm Solatio Energia to enter the national Incentive Regime for Infrastructure Development (REIDI).
After being allowed to enter REIDI, the local units of the European firm will invest over BRL 1.65 billion (USD 296.7m/EUR 270.7m) to construct the plants, saving around BRL 168.6 million. Each of the 12 facilities has an individual capacity of 49.11 MW and will require an investment of BRL 137.77 million. The Belmonte 1-1, 1-2 and 1-3 projects are located in Pernambuco state and are scheduled to be completed by July 1, 2022.
The other nine schemes -- Janauba 12, 13, 14, 15, 16, 17, 18, 19 and 20 -- are based in Minas Gerais state. Commissioning is expected to occur by June 1, 2023.
REIDI, launched in 2007, grants tax incentives to companies investing in infrastructure projects within the transport, energy, sanitation and irrigation sectors.
(BRL 1 = USD 0.179/EUR 0.164)