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Chicago Company Looks To Build 500 MW Solar Power Plant In São Paulo

Solar power is growing at a tremendous rate, and there are constantly new hot markets jumping onto the scene. One of these hot markets is Brazil. Take a stroll through those archives for a look at some of the big solar news coming out of the soccer superstar. The most recent announcement worth some serious highlighting is that Chicago-based company New Generation Power (NGP) and São Paulo-based company Grupo Léros are looking to build a 500 MW solar power plant (in 30 MW chunks) in São Paulo, Brazil.

The solar panel installation will actually be in the city of Taubaté. 500 MW is actually “the maximum permitted capacity for a power plant to be eligible for an 80% discount on the electricity transmission tariff (TUST) in Brazil,” PV Magazine notes.

The total cost of the giant solar project is projected to be $906 million (BRL2 billion). While the project is to be built by NGP and Grupo Léros, NGP is supposed to have 85% majority ownership.

São Paulo is actually aiming for 1,000 MW of solar energy capacity by 2020, and a whopping 2,700 worth of solar energy capacity is to be up for grabs at an upcoming Brazil renewable energy auction, the first time solar will be competing with super-low-cost wind at such an auction. The megaproject above will be competing in the following Brazil renewable energy auction in December.

All in all, Brazil is looking to become a pretty big solar market. Solar panel installation is booming in countries across the world, including the US of course, but I think there are few that are as hot as Brazil.

Full Disclosure: This article was supported by eco-Kinetics.

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