The PPA is part of the energy portfolio generated by the Milagres solar plant (210MWp), in Abaiara, in the state of Ceará, which is expected to start commercial operation in 2024 with investments of R$ 800 million. During the 21 months of construction, 800 direct jobs will be created, with priority being given to hiring local labour. The plant will also reduce the emission of 246,216 tons of carbon dioxide per year, equivalent to the diesel fuel consumption of more than 57,000 cars.
“The PPA with América Energia is a significant milestone in Lightsource bp's business strategy, as it facilitates financing of the Milagres solar plant, demonstrating the company's ability to partner with important renewable energy players in Brazil” said Pedro Vidal, VP of Origination and Commercialization at Lightsource bp. “It is part of our strategy to reach smaller customers, which we are currently achieving through partnerships with traders who want to operate more in retail. In this way, we have achieved the objective that everyone has access to the benefits of solar energy: renewable, competitive and predictable. In addition the partnership includes the issuance of Renewable Energy Certificates (I-RECs) for the entire period and volume sold. The issuance of I-RECs serves as a vector for generating value for the customer, as it guarantees sustainability and traceability, ensuring that energy comes from a clean source. This is a widely adopted way in the world market to demonstrate sustainable practices in relation to energy generation and consumption, with a focus on offsetting greenhouse gas emissions.”
With a large 4 GW portfolio of projects under development divided among the Southeast, Midwest and Northeast regions of Brazil, Lightsource bp expects to meet the growing demand for solar renewable energy contracts, both through corporate PPAs and self-production structures.
In addition to generating energy independence for Brazil, solar energy is a local, reliable and competitively priced resource that is not subject to the exchange rate volatility of fossil fuels or the increase in energy prices due to the restriction of hydroelectric generation during droughts. Due to geographic diversification, the photovoltaic source is able to meet the demands of customers who do not want to take the risk of associating their industrial investment with a solar park in the same state, being able to choose to connect to different points of the national interconnected system in the country.
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