Powertis cements Brazil position with 765MW PV portfolio

Facebook
Twitter
LinkedIn
Reddit
Email
Image: BNDES.

Powertis is to develop four projects in total across Minas Gerais and São Paulo. The most significant project, which is anticipated to have a capacity of 495MW, will be joined by three separate 90MW projects.

Specifically, two projects have been earmarked for Pedranopolis, São Paulo; a further two in Araxa, Minas Gerais; and one additional project is to come forward in Leo Silveira.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Powertis said it would need an investment of around BRL$2.5 billion (around US$610 million), and the developer has managed to clinch finance from Brazil’s Banco Nacional de Desenvolvimento Econômico e Social (BNDES) and Banco do Nordeste (BNB), with financial close expected in Q4 2019 and Q1 2020.

They will be underpinned by power purchase agreements with two unnamed frontline offtakers in the country, which will purchase the power under fixed-term contracts until 2041.

It’s expected that the projects will begin operations in January 2021 and January 2022.

Powertis has turned to Spanish solar firm Soltec, which will conduct all installation and construction services on the portfolio, while also providing the trackers that will be used.

“With the construction of these four projects, Powertis continues to strengthen its position in the Brazilian market and also contributes to the generation of jobs through the implementation of clean energy,” Pablo Otín, CEO of Powertis, said.

Construction is expected to create more than 7,200 direct and indirect jobs, while a further 160 permanent roles are to be created once all four plants are operational.

Brazil is undergoing something of a boom in solar PV activity aided by controversial president Jair Bolsonaro, who has looked to bring the technology into the fold in auctions that had previously been reserved for wind. 

Last week, it was confirmed that winners of Brazil’s A-6 auction, the first to admit bids from PV projects, will be offered 20-year supply deals from the government, contracting them for power generation from January 2025 until December 2044.  

The industry's involvement in the A-6 auction scheme comes after PV bids tabled for the separate, renewably-only A-4 scheme produced average prices of BRL67.48/MWh (around US$17.5/MWh), seen as a global milestone.

The prospects and challenges of Latin American solar and storage will take centre stage at Solar Media's Energy Storage Latin America, to be held in Colombia on 28-29 April 2020.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.

Read Next

September 11, 2025
Founder Group has won a RM10 million (US$2.3 million) engineering, procurement, construction and commissioning contract for a 30MW solar plant in Malaysia.
September 11, 2025
Madison Energy Infrastructure has raised US$800 million to accelerate the deployment of clean energy assets across the US. 
September 11, 2025
The EBRD has launched a new programme to improve access to green financing and support energy investments such as renewable power projects.
September 11, 2025
Constant Energy has secured THB300 million (US$9.4 million) in green financing from HSBC to expand large-scale solar and battery storage projects in Thailand. 
September 11, 2025
Solar power generation in Central Europe has grown at more than twice the EU average rate since 2019, according to new figures.
September 10, 2025
A project claimed to be Germany’s largest agriPV plant has been commissioned in the north-east of the country.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines