The company has been awarded the right to sign 20-year energy supply contracts with the 103 MW Horizonte MP, 158 MW Lapa and 292 MW Nova Olinda photovoltaic projects

EGP will be investing a total of approx. 600 million US dollars in the construction of the plants

EGP has been awarded the right to sign 20-year energy supply contracts in Brazil for a total of 553 MW with its three new solar photovoltaic projects Horizonte MP (103 MW), Lapa (158 MW) and Nova Olinda (292 MW) following the “Leilão de Reserva” public tender. The addition of this award to EGP’s existing operational presence in the country means that the company is now the top player across the entire solar industry of Brazil in terms of installed capacity and project portfolio. The outcome of this tender, which awarded more capacity to EGP than any other participants, adds to the 11 MW of Fontes Solar I and II, Brazil’s largest photovoltaic complex currently in operation, and to a further 254 MW awarded to the company in November 2014 for the construction of the Ituverava solar project.

“We are extremely pleased about this landmark win, thanks to which we became the number one company in the Brazilian solar industry” said EGP CEO Francesco Venturini. “The 818 MW of total capacity won in all photovoltaic auctions launched in Brazil so far, the 700 MW won in wind power auctions and 102 MW won in hydropower auctions in the country since 2010 all offer further validation of our Latin America growth strategy, the strength of which is based on our focus on technologies that are approaching or are at grid parity, developing and delivering innovative solutions and extracting synergies with other Enel Group companies in the region.”

EGP will be investing a total of approximately 600 million US dollars in the construction of the three new solar facilities that will be completed and enter operation by 2017, in line with the growth targets set out in the company’s current business plan, which provides for the construction of 7.1 GW of additional capacity worldwide by 2019.

The three projects, which will be built in areas which enjoy high levels of solar radiation, will generate approximately 1.2 TWh of green energy, making a significant contribution to meeting Brazil’s need for new power generation. The 20-year supply contracts awarded to EGP provide for the sale of specified volumes of energy generated by the plants to the Brazilian Chamber of Commercialisation of Electric Energy (CCEE – Camara de Comercializaçao da Energia Eletrica).

Horizonte MP will be built in Tabocas do Brejo Velho in the State of Bahia, which is located in Brazil’s north-east. Once up and running, the plant will generate annually about 223 GWh of renewable energy while avoiding the emission of around 67,000 tonnes of CO2 into the atmosphere. The plant will be located next to EGP’s Ituverava solar project, which was awarded to the company in November 2014’s “Leilão de Reserva” tender, meaning that EGP will be able to pool resources both during the construction of Horizonte MP and the operation of the two projects, which will share the same connection infrastructure.

The Lapa project will be built in Bom Jesus da Lapa in the State of Bahia. Once up and running, the plant will generate about 340 GWh each year while avoiding the emission of approximately 102,000 tonnes of CO2 into the atmosphere.

Nova Olinda will be constructed in Ribeira do Piaui in the State of Piaui. The plant will generate about 604 GWh per year once fully operational, avoiding the emission of around 181,000 tonnes of CO2 into the atmosphere in the process.