Major PV energy provider SunEdison is forming a joint venture with Brazil’s largest renewable energy company, Renova Energia S.A. to build 1GW of PV power plant projects in Brazil.
PV Tech recently highlighted that SunEdison and Enel Green Power had been among the big-name winners from Brazil’s successful first solar auction. Renova Energia sold solar PV projects worth 106.9MW under the auction and said shortly afterwards that it had chosen SunEdison Singapore to supply modules for the projects.
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The Renova and SunEdison JV will result in a 50% stake each, building and operating four utility-scale solar power plants in Bahia State, Brazil. The joint venture confirmed that they would install 106.9MW of solar by 2017.
“Renova's joint venture with SunEdison positions us as the best entity to serve the needs of the Brazilian renewable energy market,” said Mathias Becker, president of Renova. “This opportunity to enter the solar energy market has been two years in the making, and we're excited to see the tremendous support from the Brazilian local and state authorities in developing this and other opportunities for utility-scale solar.”
“We are proud to partner with Renova, the most innovative and respected renewable energy company in Brazil,” said Jose Perez, SunEdison president for EMEA and Latin America. “Aligning the best partners, financiers, and products in a joint venture like this ensures cost competitive, clean energy for the local utility. This agreement reinforces our leading position in Latin America.”
SunEdison will also supply solar modules and trackers for all of the projects, to be assembled in Brazil, and solar plant construction will be financed by the Brazilian Development Bank (BNDES).