Spain's Enerside to build 249 MW of solar in Brazil

Spanish integrated solar PV platform Enerside Energy SA (BME:ENRS) said that it will have two solar PV projects totalling 249 MW under construction in Brazil in 2023.

The firm obtained a grid connection permit for the 207-MW Pudong I solar project in the state of Ceara, it said in a bourse filing this week. Environmental and construction licences for this project are already in place, and the next in line are a financing agreement and a power purchase agreement (PPA).

Enerside said that it is already negotiating the PPA.

Construction of Pudong I is expected to commence in the second half of 2023.

The company also said it would not exercise the sale option it had on the 42-MW Ribeiro Goncalves solar project in the state of Piaui. Now that the project remains in Enerside’s own portfolio, construction could begin in the first quarter of 2023.

Brazilian bank Banco do Nordeste do Brasil SA (BVMF:BNBR3) has provided the financing for Ribeiro Goncalves. Enerside said that is well into negotiating the signing of a PPA with “one of Brazil’s leading industrial groups”, the filing reads.

With these two projects, Enerside now has just over 270 MW of schemes under construction or ready-to-build stages in Brazil and Chile. It expects to have 330 MW in operation or under construction in Spain, Chile and Brazil by the end of 2023.

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