Casa dos Ventos announces massive investment plans for Brazil; MPC building 65 MW in Guatemala; Greening bags green loan for Mexico DG projects; Atlas Renewable Energy expands into Colombia; Brazilian pharma group Aché signs up for solar.
BRL 12 billion in Brazilian RE: Brazilian renewable energy developer Casa dos Ventos plans to invest more than BRL 12 billion in renewable energy assets in Brazil by the end of 2026. It claims to have access to around 30 GW of wind and solar projects under development in the country, the company announced while launching a new logo recently. Currently, its operational and under-construction portfolio exceeds 3 GW. Riding on the renewable energy interest among corporates, Casa dos Ventos has signed bilateral contracts with companies in various industries including steel, mining, fertilizers, chemicals, data centers, among others. TotalEnergies of France is a 34% stakeholder in a joint venture it launched with Casa dos Ventos in October 2022.
65 MW solar plant in Guatemala: MPC Energy Solutions has started the construction of a 65 MW solar power plant in Guatemala's San Patricio Renovables. It has also secured a 16-year power purchase agreement (PPA) with refined sugar producer Ingenio Magdalena S.A. (IMSA) for the entire output of around 141 GWh/year for a fixed price. San Patricio is MPC's largest project to date. It expects the project to deliver long-term stable financial returns and help surpass $20 million annual group revenue threshold. To be constructed by the Enerland Group, the project is scheduled for completion by mid-2025 with an investment of around $42 million.
Green financing for Mexico projects: Spanish renewable energy company Greening Group has raised MXN 590 million ($35 million) in a green loan for the 'largest' distributed solar generation project in Mexico. The Santander Corporate & Investment Banking financing has been raised through a green loan secured by the Green Investment Policy of the Spanish Export Credit Agency (ECA) CSECE. Greening says the proceeds will enable it to build the 41.9 MW included in phase I of the contract signed by Mexican food company Bachoco. Greening's Mexican subsidiary Greening Investments Mexico signed the 15-year PPA with Bachoco in July 2023 for the sale of electricity generated by up to 148 on-site self-consumption PV installations on the latter's premises, representing a combined 41.9 MW. An additional 20 MW in more than 176 facilities will be installed under the recently signed phase II.
Atlas acquires Colombian project: Atlas Renewable Energy has acquired its maiden solar project in Colombia. The 201 MW Shangri-La project is located in the Department of Tolima. On completion at the end of 2025, it will generate close to 403.7 GWh/year. Atlas has signed a PPA with an unidentified local company for this facility. The project was initially developed by Rayo Energia and Black Orchid Solar.
Brazilian pharma company signs solar PPA: Aché Laboratories, the Brazilian pharmaceutical company, has signed up to receive solar power from a 27.5 MW project. Energy trading and generation company of the Cornélio Brennand Group, Atiaia Renováveis will set up the project. The Maravilhas II PV Plant is to be installed in Goiana city. It will supply power to Aché's laboratories located in Guarulhos, Nações Unidas, Pernambuco and Anápolis. Along with solar power, Aché will also receive renewable energy certificates I-RECs generated by the project.