Published on July 31st, 2015 | by Smiti5
Swiss Solar Module Maker EcoSolifer Plans Production Unit In Brazil
July 31st, 2015 by Smiti
Yet another solar photovoltaic module manufacturer is planning to set up production facility in Brazil.
Switzerland’s EcoSolifer AG is reportedly looking to set up a solar PV module manufacturing unit in Brazil, and is currently scouting for locations. The company plans to produce 80 MW of solar PV modules every year.
The company is looking to be among the first international companies to manufacture solar PV modules in Brazil. Several other companies have announced similar plans to cater to the expected surge in demand for solar PV modules, as Brazil auctions off large-scale solar power projects.
EcoSolifer is expected to invest around $8.7 million to set up the production facility, and is looking to secure financing from the Brazilian development bank (BNDES). Brazilian investors are also likely to invest in the production unit, and may hold up to a 45% stake in the facility. Solar cells for making the the modules would be imported from EcoSolifer’s factory in Csorna, Hungary, while module production from the proposed facility is expected to being from April next year.
Brazil is looking to have a 3.5 GW solar power capacity installed by 2023. To achieve this, the Brazilian government is planning to organise several auctions.
In October 2014, the National Electric Energy Agency organised the country’s first solar-only auction, which received an overwhelming response from the developers. Prospective developers placed bids for 400 projects, with a total generation capacity of about 10 GW. A total of 31 solar power parks were finally auctioned to developers, representing 1,048 MW capacity.
Two more solar-only auctions are planned for this year in August and November. Brazil’s Energy Research Company received applications for 649 projects with total capacity of 20.9 GW for the auction scheduled for 13 November.