Savanna is the latest solar power generation project by Global Power Generation in Brazil, confirming its commitment to this technology following the entry into commercial operation of the Sobral and Sertão projects last year. Acquisition of the project was completed on 6 April, following approval by the competent regulator in Brazil. Construction work began ten days later, and should conclude by the end of the year. Commercial operation by the Savanna plant is expected to begin at the end of the year.
Once in operation, it will have an estimated production of 165 GWh, which will be supplied to the Electricity Commercialisation Chamber (CCEE) under the supply contract (PPA – Power Purchase Agreement) signed following the allocation of this project in the 2nd Reserve Energy Auction of 2015 for an annual production of 143.66 GWh/year.
In operational terms, Savanna will allow Global Power Generation to consolidate the targets in its 2018 Strategic Plan and enhance its installed capacity ahead of the ambitious projects in 2020. The project will bring 12 million US dollars in 2019, which will increase the company’s EBITDA by approximately 4%. This new generation project will consist of two solar photovoltaic plants (Guimarânia I and II) for a scheduled installed capacity of 82.58 MWp. The plants will be located in the municipality of the same name, in the State of Minas Gerais, Brazil.
Until 2038
This contract will guarantee regulated revenue for GPG until 2038, with an average rate of 97.5 euros/MWh. This rate will be maintained until 115% of the annual production awarded is reached, meaning that plans are in place to generate up to 165.21 GWh/year. In order to achieve said production, a total installed power capacity of 82.53 MWp will be required (60 MW at the point of connection). A future 07.MW partial repowering of the plant during the operational stage is also forecast to compensate for gradual panel degradation.