Co-Investing

BRAZIL NOVA CRUZ 34MW SOLAR PARK

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Project ID: 76000012
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A Brazilian company developed a photovoltaic power plant located in the northeastern region, The plant has a total capacity of 34 MWp and the owners have already won PPA contracts

    Project schedule:

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  • Co-investment

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Project Overview

Project name
BRAZIL NOVA CRUZ 34MW SOLAR PARK
Project type
Green
Sectors
Renewable Energy
Project location
Brazil Rio Grande Do Norte Nova Cruz
Project region type
Mainland
Total investment amount
44.60 M USD
Investment type
Joint venture, Chinese-controlled
Internal Rate of Return
26.5%
Project developer
A*****X

Project Video

Project Progress

1    Project Site Survey
 
5    Complete Project Investment Signing
 
2    Project Feasibility Study Report
 
6    Complete Project Financing Procedure
 
3    Project Land Permits
 
7    Complete EPC Project Signing
 
4    Project Various Permits
 
8    Complete Project Construction
 

Project Details

The solar park will be in the Town of Nova Cruz, Rio Grande do Norte, Brazil. The Company leases the land where the solar panels and related equipment will be placed. The development work on the solar park is nearly complete. We have completed studies and analyses related to solar feasibility, interconnection, financing, and solar panel supply. We also have secured all of the land on which the solar panels will be placed. We have also completed our environmental impact studies. On November 13, 2015, ADX entered into a renewable energy purchase agreement with different distributors through the ANEEL government-run auction system. Under the agreement, which is for a term of 20 years, these distributors agreed to purchase 30 MW of the energy generated by the Nova Cruz solar park at a fixed price of R$292.60 per MWh (megawatt hour), with annual inflation adjustments based on the IPCA inflation index. The rest of the 4MW will be sold to the Spot market.

Investment Environment

Energy is sold to distributors through a Dutch Anglo auction system organized by the Brazilian government. The energy sold through the auctions is distributed throughout Brazil depending on energy needs so there is no geographic demand risk within the country. According to IEA (International Energy Agency), photovoltaic solar energy will represent more than 10% of the world energy matrix by 2050. Of this total, more than 60% will correspond to distributed generation (residential, commercial and industrial facilities). By 2018, Brazil must be among the 20 countries with the highest generation of photovoltaic energy. According to the Ministry of Mines and Energy, the sector should move around R $ 100 billion and supply 2.7 million people with photovoltaic systems by 2030. The Brazilian government is currently prioritizing the expansion of solar energy capacity to ensure that the government’s targets are met. The government has specifically identified solar energy as one of the two most important forms of energy generation that Brazil would like to increase capacity for in the medium term and the market is a negligible percentage of the overall energy generation in the country now. Thus, the potential for continued expansion in the market is exceptional from both the supply and demand sides right now. In Brazil, photovoltaic solar energy will reach 7,000 MW of generation, surpassing the current mark from 0.02% to 3.5% within the total electricity capacity in Brazil until 2024, according to the Decennial Plan of Electric Energy 2024 (PDE 2024). The amount and installed capacity of photovoltaic solar projects occur in most of, many of the regions in the Northeast and Southeast of Brazil, which are the regions with the highest potential of this type of source, because they are in the areas with the highest incidence of Horizontal Global Irradiation (IGH). The municipalities of the semi-arid region of Northeastern Brazil, where the highest incidence of contracting enterprises (about 58% of contracted power) stands out.

44.60 M USD

Target investment amount

49.50 M USD
Confirmed investment
110%
Progress
Confirmed investors number:2
Co-investment deadline:2018-10-26

Lead investor :1

  • HEBE******Ltd.

Follow investor :1

  • Chin******Ltd.

Customer Representative

Mr Zhang Customer Manager

jing.zhang@bjciri.com

+86 13601315595