GPG acquires its first electricity generation project in Brazil

Brazil

Global Power Generation (GPG) has acquired a majority stake (85%) in two solar plants in Brazil – Sobral I and Sertao I – that will produce 154 GWh per year.

ico_check_naranjaGPG will invest approximately 85 million euros in developing two solar farms located in the north of the country

ico_check_naranjaProduction by the facility, which will begin to operate in the second half of 2017, is expected to stand at 154 GWh per year.

The solar farms, called Sobral I and Sertao I, of 68MWp (equivalent to 60 MW), are located in the region of Piauí, in the north of the country, and are expected to begin operating in the second half of 2017.

The facilities to be developed by GPG are associated with a generated power sales agreement for 20 years with the Brazilian State system at an approximate price of 95 €/MWh.

GPG had expected to add 100 MW to its installed capacity by 2018, while hoping to incorporate 2,700 MW more in 2020, mainly from renewable energy. With this agreement and the construction of 91 MW in Australia, which was announced in August, GPG has already surpassed the 2018 target set by the GAS NATURAL FENOSA Strategic Plan.

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