Renewable energy developer Newave Energia and investment firm Gerdau have opened a 452MW solar PV plant in Brazil.
Located in the central state of Goiás, the Solar de Barro Alto had an investment of R$1.3 billion (US$240 million) and saw nearly 731,000 solar panels installed.
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Newave Energia carried out the development, construction, and commercialisation of the PV plant and will continue to lead operation at the project.
Part of the electricity produced at the solar PV plant will be destined for the Mercado Livre de Energia (Free Energy Market), with flexible contracts aimed at corporate offtakers. Another part of the energy (40%) will be offtaken by Gerdau and help power its steel production, which participated in the PV plant and is a shareholder of Newave Energia.
The inauguration of the Barro Alto solar project continues the developer’s expansion into the renewables sector. In June 2025, the company powered the 420MW Arinos solar park in the eastern state of Minas Gerais, which also saw Gerdau offtake 40% of the project’s total energy production.
Newave Energia acquired the Arinos PV project in 2023 from French renewable power company Voltalia.
“This complex demonstrates, in practice, how well-structured projects can align operational efficiency, competitiveness, and sustainability. It is an asset that is born with scale, governance and the capacity to meet different consumption profiles, from large industries to the free market, contributing to a cleaner and more resilient energy matrix in Brazil,” said Edgard Corrochano, CEO of Newave Energia and managing partner of Newave Capital.
Corrochano also highlighted the importance of the partnership with Gerdau and how projects such as this one that unites generators and large consumers can bring predictability and efficiency.
