Largest Solar Power Plant In Latin America

Enel Starts Construction Of 292 MW Nova Olinda Project In Brazil
02:16 AM (Beijing Time) - 07. July 2016
Enel’s Brazilian subsidiary has currently an installed solar PV capacity of only 12 MW. But the solar share is set to change soon as it has currently under development 807 MW of solar projects.Enel’s Brazilian subsidiary has currently an installed solar PV capacity of only 12 MW. But the solar share is set to change soon as it has currently under development 807 MW of solar projects.

Key Takeaways

  • Enel Green Power of Italy starts construction of the 292 MW capacity Nova Olinda solar park in Brazil
  • This project is part of the 553 MW PV capacity the company won in the country in August 2015 through competitive bidding
  • The Nova Olinda park is expected to come online by H2/2017 and is expected to generate 600 GWh of solar power a year
  • Enel is already building the 254 MW capacity strong Ituverava project, what it says will be Brazil’s second largest solar project

Italy’s renewable energy company Enel Green Power has started constructing what will turn out to be the largest solar power plant in Latin America. The 292 MW Nova Olinda PV plant in Brazil is expected to generate over 600 GWh of clean power annually.

Nova Olinda is owned by four special purpose vehicles (SPV), all held by Enel’s local subsidiary Enel Green Power Brasil Participações Ltda. (EGPB). Spread in an area of 690 hectares, the plant is coming up in Ribeira do Piauí in Brazil’s north-eastern state of Piauí. The project costs a total of $300 million, and is financed by Enel. The plant will provide clean energy to some 300,000 Brazilian homes for a period of 20 years under a power purchase agreement signed with the Brazilian Chamber of Commercialization of Electric Energy (CCEE). The project is expected to be commissioned in the latter half of 2017.

The company had won a total PV volume of 553 MW through competitive bidding in August 2015. Together with the right to sign PPAs for the Horizante (103 MW) and Lapa solar parks (158 MW) Enel is becoming the top player in terms of installed capacity and project portfolio in Brazil’. The Lapa Solar Parks of 80 MW and 78 MW capacity are already under construction (see Enel 158 MW Project In Brazil). Nova Olinda is part of this 553 MW capacity won by Enel.

EGPB already owns an operational solar power plant of 11 MW capacity, Fontes Solar in Brazil, while it is developing the 254 MW Ituverava project. The latter will be the country’s second largest solar project, according to EGPB.

Enel’s Brazilian subsidiary has currently an installed solar PV capacity of only 12 MW, 401 MW wind and 133 MW hydro power. But these shares are set to change soon as it has currently under development 807 MW of solar projects, 442 MW of wind and 102 MW of hydro power capacity.

Carlo Zorzoli, Enel’s country manager for Brazil, said, “The Brazilian government has developed an attractive and well-structured auction process, and our success in the country has been built upon our market-leading technology, our excellent financing, and a reputation for sustainable stakeholder engagement. We look forward to continuing to invest in order to grow strongly in the country’s energy sector.”

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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Anu Bhambhani