April 3 (Renewables Now) - Brazil has allowed the 60-MW Serra do Mel I photovoltaic (PV) project owned by Voltalia Energia do Brasil Ltda to enter the national Incentive Regime for Infrastructure Development (REIDI) and issue infrastructure debentures.
After being allowed to enter REIDI, the local unit of French renewables company Voltalia SA (EPA:VLTSA) will invest BRL 202.9 million (USD 38.5m/EUR 35.5m) to construct the plant, saving a bit over BRL 20 million. The PV facility will enter construction by March 4, 2024 with full commercial operation planned for December 15, 2024.
To be located in Serra do Mel municipality, Rio Grande do Norte state, the solar park will consist of 60 generating units with 1 MW of individual capacity. It also has the status of a priority project, which is needed to speed up its implementation.
REIDI, launched in 2007, grants tax incentives to companies investing in infrastructure projects within the transport, energy, sanitation and irrigation sectors.
(BRL 1 = USD 0.189/EUR 0.175)