SunEdison to invest USD 30m in PV assembly unit in Brazil
Nov 25, 2014 - SunEdison Inc (NYSE:SUNE) will invest USD 30 million (EUR 24.1m) in two factories in Brazil to assemble photovoltaic (PV) modules and trackers with a capacity to service 140 MW of solar energy projects a year.
The company announced the plan on Monday at the launch of its joint venture with Brazilian renewable energy developer Renova Energia SA (BVMF:RNEW11).
The factories should start operation in 2016 at a location that is yet to be determined, Luis Pita, general manager for Brazil, told journalists. The project is expected to create 400 jobs.
SunEdison and Renova formed a 50/50 joint venture to develop and operate 1,000 MW of utility-scale PV projects in the country. The first 106.9 MW under the plan will be installed in Bahia state by 2017, using SunEdison's supply modules and trackers. This initial capacity is spread across four parks which were among the 31 solar projects that won energy sales contracts at Brazil's auction at end-October.
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