Brazilian renewable energy company Detronic Energia has formed a partnership with investment advisor Appian to develop 20 ready-to-build solar parks with a total capacity of 62.4MWp in Minas Gerais, Brazil.
The development of the solar sites will begin in the second quarter of 2023. Located in Southeastern Brazil, Minas Gerais offers solar irradiation and fiscal incentives, making it an ideal region to develop solar PV projects, according to Appian.
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Minas Gerais is the largest distributed generation market in Brazil with 2.5GWp already installed.
“We live in a connected and electrical world, and renewable energy sources are the protagonists of a sustainable future. This is a partnership built on purpose, and we are eager to combine the efforts of two incredible teams to achieve common goals and results,” said Andre Barreto, founder and CEO of Detronic Energia.
Currently, Detronic Energia has 34 recently-built solar farms connected to the grid, as well as a further 47 under construction.
Through this partnership, Appian, which invests mainly in mining companies, can develop its in-house clean energy and sustainability expertise, particularly around incorporating renewable projects into Appian mine sites going forward. Apart from the latest portfolio, Detronic Energia and Appian are evaluating opportunities for additional solar farms at mine sites across Brazil.
Michael W. Scherb, founder and CEO of Appian, said: “As a leading investor in mining, we see ESG as core to the delivery of our strategy and the success of our investments. By partnering with an industry expert in Detronic, we have demonstrated that providing clean energy to our portfolio in Brazil is a priority, alongside delivering attractive, risk-adjusted returns to our investors in the process.