A round-up of the latest news in solar project development, as Brazilian mining firm Vale plans a 766MWp facility, a 500MW portfolio changes hands in Canada and ReneSola sells Polish parks.
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Mining company plans 766MWp project in Brazil
2 December: Brazilian mining company Vale has revealed plans to construct a 766MWp solar PV project that is expected to meet 13% of its estimated electricity demand in 2025.
The US$500 million Sol do Cerrado facility, planned for the Brazilian state of Minas Gerais, will consist of 17 smaller solar parks and is slated for completion by late 2022.
Vale said the addition of solar optimises its generation portfolio in Minas Gerais, as it holds stakes in a range of hydropower projects in the state.
Sol do Cerrado forms part of a US$2 billion investment package by the company to lower its emissions, as it targets a 33% reduction of its direct and indirect emissions (scopes 1 and 2) by 2030.
Renewables developer snaps up 500MW Canadian solar portfolio
3 December: Renewable energy developer Greenbriar Capital has agreed to acquire a 500MW solar portfolio located in the Canadian province of Alberta.
The company has secured a deal with Devon Sandford, president of solar construction firm Northern DC Solar, for the projects, which are at various stages of development.
The agreement comes after Greenbriar earlier this year signed a 25-year power purchase agreement for the 80MW to 160MWac Montalva PV project in Puerto Rico that it says will be the largest solar facility in the Caribbean when complete.
ReneSola sells 16MW of parks in Poland
7 December 2020: PV project developer ReneSola has announced the sale of 16 solar parks in Poland with a total capacity of 16MW.
The projects, which all feature bifacial panels, have been bought by Modus Asset Management, a Lithuanian investment management company focused on renewable energy. All the parks have been awarded a 15-year contract-for-difference support mechanism in Poland.
Josef Kastner, CEO of ReneSola Power's European region, said the company looks forward to future collaborations with Modus, which is aiming to build a Polish solar portfolio in excess of 100MW. “We remain optimistic about our opportunities in Eastern Europe, where a supportive regulatory and financing environment will enable us to grow in the region over the next several years,” he added.
US-headquartered ReneSola announced earlier this year that it aims to have a solar project pipeline of 1GW by the end of 2020. As well as Poland, the company is targeting growth in markets such as Hungary, Germany, France, Spain, the UK and the US.