Solar energy projects for Brazil will be deployed by the powers of the U.S.-based developer Energea Global, and the London-listed investment trust VH Global Energy Opportunities PLC, also known as GSEO.
Firstly, according to the companies’ statement, GSEO committed $63 million of investment for the development of solar projects for Brazil; specifically, for distributed solar across 10 Brazilian states.
Secondly, the GSEO capital release is aimed to expand remote distributed power generation projects, to increase community access to cleaner and cheaper forms of renewable energy.
Thirdly, the joint initiative identified 18 ready-to-build projects across 10 Brazilian states, as said above. However, each project involves building a solar power plant to supply energy to local commercial and industrial customers; nevertheless, project would also help large global corporations with operations in the country.
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Big opportunity for solar energy in Brazil
Moreover, the joint collaboration pretends to have a dual effect of improving secure, localized access to clean energy and helping to lower energy prices; especially as Brazil has become a key market for renewable energy.
Mike Silvestrini, Energea’s managing partner, said about the matter. “Brazil is one of the most exciting markets in the world when it comes to renewable power; and we are proud to have the backing of the expert team at GSEO to further develop distributed power generation across the country.”
He also remarked. “Right now, Brazil has the perfect combination of supportive policy, strong energy economics; also, foreign exchange, and customer adoption; consequently, marking it a prime opportunity for investors looking for attractive returns on investment; while helping to slow down climate change.”
Finally, Eduardo Monteiro, co-chief investment officer of Victory Hill Capital; which is the investment advisor for GSEO, stated. “Brazil is experiencing rapid growth in its energy sector; and there is significant potential for investors with the right expertise to help contribute to the country’s growth with cleaner and reliable sources of power.”
