Enel Green Power (“EGP”) has started construction of Ituverava solar power plant in the state of Bahia, in north-eastern Brazil. Once completed, Ituverava will have a total installed capacity of 254 MW, making it EGP’s largest solar power plant currently under construction.
“With the construction of Ituverava Enel Green Power confirms its willingness to play a leading role in the solar sector” said Francesco Venturini, CEO of EGP. “Globally EGP has around 1,650 MW of solar projects in execution or contracted, which demonstrate our growing commitment towards the further development of this technology in the coming years”.
The new solar plant, which is owned by three special purpose vehicles held by Enel Green Power Brasil Participações Ltda., is expected to be completed and enter into service by the end of 2017. Ituverava will be able to generate more than 550 GWh per year, enough to meet the annual energy consumption needs of more than 268,000 Brazilian households, while avoiding the emission of over 185,000 tonnes of CO2 each year.
EGP will be investing approximately 400 million US dollars in the construction of Ituverava, in line with the company’s growth targets set out in its current business plan and financed with Enel Green Power Group’s own sources. The solar project will be supported by a 20-year power purchase agreement (PPA) with the Chamber of Commercialisation of Electric Energy (CCEE – Câmara de Comercialização de Energia Elétrica).
In Brazil, EGP currently has a total installed capacity of 418 MW, of which 93 MW comes from hydro, 313 MW from wind and 12 MW from solar, with 444 MW of projects currently under construction. Following the awarding of 553 MW of solar capacity in August, the company is now the leading player in Brazil’s solar power industry in terms of installed capacity and project portfolio. EGP was also recently awarded a concession for two already operating hydro power plants with a combined installed capacity of 40 MW.