Solar Americas Capital is planning to facilitate over 2 GW of solar power in Brazil by the year 2026, in collaboration with multiple corporations in Brazil. Leveraging its experience in Brazil, Solar Americas will cofound, identify, build and manage the solar assets for commercial partners.
The company plans to raise 1 billion pounds for investing in Brazil’s solar segment. Following the completion of the first round of funding from private investors, the construction for the first solar plant has also begun.
Earlier in July 2021, Canadian Solar announced that it has received $100 million in financing from two Brazilian banks to help it develop and build solar projects in Brazil. The financing arrangement with banks BTG Pactual and Itau BBA would support up to 70 per cent of Canadian Solar’s equity commitments in its Brazilian project portfolio.
The Brazilian Solar Photovoltaic Energy Association has projected that solar photovoltaic projects will generate more than 147,000 new jobs for people in the country in 2021. Further, new private investments in the sector are to the tune of $4.29 billion in 2021 with the additions in solar capacities through segments of distributed generation as well as utility-scale solar plants.
REGlobal’s Views: Collaborations with various corporations will help reduce risks for both Solar Americas Capital as well as its partner organisations. Commercial solar power plants are on the rise in Brazil as well as other parts of the world due to their attractive cost economics for all concerned parties.
