Madrid. November 3rd, 2020. Powertis, division dedicated to the development of large scale solar photovoltaic projects in Brazil, Italy and Spain, belonging to the Spanish group Soltec Power Holdings, and BNDES, Banco Nacional de Desenvolvimento Econômico e Social de Brasil, have reached an agreement for the financing of the Araxá 1 and 2 photovoltaic plants belonging to the Spanish company and which total 112.5 MWp. The amount of this financing will be 194 million Brazilian Reais, a figure that represents around 70% of the investments planned for the construction of the project, and the debt term is 24 years. The financing is structured under the “PLD Suporte” mechanism developed by BNDES, aimed at financing long-term projects in the Brazilian free market (ACL).
This operation highlights the attraction and benefits to society and the environment of developing these Powertis projects in Brazil. Through this agreement with BNDES, one of the most important banking institutions in the country, Powertis continues to strengthen its position in the Brazilian free market, contributing, moreover, to the generation of jobs through the implementation of clean energy.
The construction of both plants located in the city of Araxá (Minas Gerais) is expected to generate about 1,300 jobs between direct and indirect, encouraging the hiring of workers from local communities, while the energy produced will have the capacity to supply the consumption of 250,000 inhabitants. It is expected to be connected to the grid by the end of next year 2021.
With the development and execution of these projects, Powertis adds a total of 2.2 GW in projects in different phases of development in the Brazilian market at the end of September 2020, consolidating it as one of the main markets in the company’s portfolio globally. As part of its expansion strategy, the Spanish company expects to continue increasing its presence in this region with a target of more than 6GW of projects in different phases of development in the coming years.
Throughout the process, Powertis has counted with the financial advice of ITACA Advisory, company dedicated to economic, financial and strategic consulting in Brazil and Latin America.