Solar developer Lightsource bp has signed a 15-year power purchase agreement (PPA) with energy trader América Energia for an under-construction PV plant in the Brazilian state of Ceará.
Requiring an investment of BRL 800 million (US$150 million), the 210MWp Milagres solar plant is expected to start commercial operation in 2024.
Pedro Vidal, VP of origination and commercialisation at Lightsource bp, said the partnership with América Energia includes the issuance of renewable energy certificates, which will generate additional value for the customer.
He added that the collaboration “is part of our strategy to reach smaller customers, which we are currently achieving through partnerships with traders who want to operate more in retail”.
The deal follows Lightsource bp signing a ten-year PPA earlier this year for the Milagres project with Brazilian developer and energy trader Casa dos Ventos.
With a 4GW portfolio of solar projects under development in Brazil, Lightsource bp said it expects to meet the growing demand for solar renewable energy contracts, both through corporate PPAs and self-production structures.
Also in the state of Ceará, Canadian Solar announced last month it is selling a 70% interest in two solar projects with a combined capacity of 738MWp to SPIC Brasil, a subsidiary of State Power Investment Corporation of China.