Powertis reinforces its position in Brazil thanks to a €30-million funding scheme granted by BNDES
  • Powertis is a company belonging to Soltec Power Holdings, group quoted in the stock market and specializing in large-scale photovoltaic solar projects worldwide.
  • The company currently has 2.3 GW in photovoltaic projects in various stages of development in Brazil, which is one the main countries within the company’s international portfolio.
  • Newly received funds will be allocated to the Pedranopolis solar project, in Sao Paulo State, with an overall capacity of 90 MW generated by three 30-MW plants.
  • As part of its commitment to reinforce and promote local economy, Powertis will favor the creation of 1,400 direct and indirect jobs in the region during the development of this project.

Powertis, company belonging to Soltec Power Holdings and specializing in large-scale photovoltaic solar projects in Brazil, Italy and Spain, and BNDES, Brazil’s National Bank for Economic and Social Development, have approved a funding scheme of 191 million euros Brazilian reais (€30.6 million) for a new project in the country. More specifically, funds will be allocated to the 90-MW Pedranopolis solar project in Sao Paulo State. This project, capable of supplying up to 125,000 households, is comprised of three plants, each generating 30 MW.

 

This is the first solar project receiving structured funding under the “PLD Suporte” scheme developed by BNDES, aimed at funding long-term projects in Brazil’s free market (ACL). The timeline assigned to the repayment of these funds is 24 years, which is the longest period ever to be granted by BNDES in Brazil’s photovoltaic energy industry. This is also the first project to be formalized after equipment and panels were already procured.

 

Following reception of funds for the Araxa projects in October, these new funds granted to Powertis in Brazil speak volumes about the momentum of the country’s photovoltaic industry, the good progress in project development, and the appeal and benefits for society and the environment resulting from these initiatives. Commissioning of the Pedranopolis plant is another stepping stone in the company’s commitment to the regions where it operates and determination to foster and boost local economies. More specifically, during plant construction and maintenance tasks some 1,400 direct and indirect jobs will be created in the region, not to forget project contribution to further strengthen clean energies.

 

Thanks to the confidence and trust of BNDES, one the main banking institutions in Brazil, Powertis continues to consolidate its leading position in the country, one of the most important ones in the company’s business plan. In fact, Powertis has an existing project portfolio of 2.3 GW in different phases of development in the Brazilian market. In the next coming years and as part of the company’s expansion strategy, Powertis expects to increase its regional presence by achieving its target of over 6GW.

 

As for Banco Nacional de Desarrollo Económico y Social (BNDES), this is the second time this bank collaborates with Powertis, after the initial R$194-million loan awarded for the development of photovoltaic plants Araxa 1 & 2, located in the State of Minas Gerais and totaling 112.5 MWp.