Powertis, the project development division of Soltec Power Holdings, has connected a 112.5MW solar PV project in Brazil, the company’s first in the country.
With an investment of €80 million (US$80.44 million), the plant, which is located in the state of São Paulo, has 210,000 solar panels and 3,750 Soltec SFOne trackers.
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Brazil is a strategic market for the company, which has a solar portfolio of 4.5GW in different stages of development in the country.
Raúl Morales, CEO of Soltec, said: “For us, the Brazilian market is strategic, both for the development of photovoltaic projects and for our industrial division. We have a leading position and a clear long-term vision.”
Through Powertis, Soltec continues its international expansion in solar PV development in markets such as Spain, Colombia, the US, Brazil and Italy, where it will co-develop with ACEA 340MW of solar PV.
The Spanish renewables company plans to gradually transition to an independent power producer (IPP) model as it aims to secure additional revenue to mitigate risks in the value chain.