In one of the largest steps towards
implementation of a large-scale, long-term renewable energy investment
strategy in Chile, Enel Green Power has announced that it has initiated
construction of a huge solar power project. Enel Green Power has reported
that construction on a 254 MW solar power project has begun in Brazil.
The company has also revealed that the estimated cost of the project
will be $400 million. The project is the largest among the ~ 1.65 GW
renewable energy projects under construction by Enel Green Power, and
was awarded to the company through a competitive auction in November
2014.
The Ituverava solar plant, which is owned
by three special purpose vehicles held by Enel Green Power Brasil
Participações Ltda., is expected to be completed and enter into service
by the end of 2017. The solar power plant will be able to generate more
than 550 GWh per year, enough to meet the annual energy consumption
needs of more than 268,000 Brazilian households, while avoiding the
emission of over 185,000 tonnes of CO2 each year.
The project will supply power to the Chamber of Commercialisation of Electric Energy under a 20-year power purchase agreement. The second auction for solar power projects, held in August 2015, saw Enel Green Power winning
553 MW of the 834 MW capacity on offer. The average tariff bid was
US¢8.42 per kWh. The company was awarded 3 projects which it needs to
commission by the end of 2017.
Enel Green Power plans to invest
$9.9 billion over the next 5 years, focusing mostly on enhancing
generation capacity. The company hopes to add 7.1 GW of new capacity
before the end of this decade. The bulk of this capital investment and
capacity expansion will take place in the emerging markets of Chile,
Mexico, and Brazil.
http://cleantechnica.com/2016/01/01/enel-green-power-begins-construction-254-mw-solar-power-project-brazil/
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