Norway’s Scatec Solar ASA has sealed a deal to build, own and operate four solar photovoltaic (PV) plants in Brazil with a combined capacity in direct current (DC) of 150 MW, it said today.

The Norwegian company signed the agreement with Brazilian firm Kroma Energia Ltda and its partners, which won the particular projects, to be located in Ceará state, in an auction that took place in November 2015.

The project companies have inked 20-year power purchase agreements (PPAs) with electricity regulator ANEEL. Under the terms of these contracts, the four facilities should enter into service within the fourth quarter of 2018.

Scatec Solar estimates it will need to invest around BRL 720 million (USD 210m/EUR 195m) to realise the schemes. Construction work is seen to start next year. The company noted that these new projects would bring more attractive returns compared to two backlog schemes in Brazil totalling 78 MW that the company has now decided to shelve.

The four solar plants are expected to produce some 305,000 MWh of electricity a year and generate about BRL 95 million of revenues annually.

The Scatec Solar

Scatec Solar is an integrated independent solar power producer, delivering affordable, rapidly deployable and sustainable source of clean energy worldwide. A long term player, Scatec Solar develops, builds, owns, operates and maintains solar power plants, and already has an installation track record of close to 600 MW.

Currently, the company is producing electricity from 426 MW of solar power plants in the Czech Republic, South Africa, Rwanda, Honduras, Jordan and the US. With an established global presence, the company is growing briskly with a project backlog and pipeline of more than 1.5 GW under development in the Americas, Africa, Asia and the Middle East. Scatec Solar is headquartered in Oslo, Norway.