Focus Energia, an energy company in Brazil, has revealed it will build more than 1.372 GW solar power capacity in the Futura Solar Complex in Bahia state of the country. The Futura Solar Complex will be divided as Futura 1, Futura 2, and Futura 3 projects representing a combined capacity of 3 GW with 45 parks.
Through its subsidiary Focus Futura Holding Participações S.A., Focus Energia has acquired 22 parks at Futura Solar Complex. It plans to exercise the exclusive purchase option for the acquisition of 23 remaining parks in Q1/2021. The entire complex is planned to come up in the municipality of Juazeiro in Bahia.
For Futura 1, the installed capacity will be 671 MW AC/870 MW DC to be built through 6 special purpose vehicles. It added that the company will also implement Futura 2 project with close to 701.5 MW AC/907 MW DC capacity, expected to come online in H1/2023. For the Futura 2 project, the company claims to have secured contracts for 103 MW capacity and is in negotiations with an unidentified third party for a long-term contract with an energy consumer controlled by an international group.
Focus Energia said it also intends to implement remaining 1.62 GW AC/1.943 GW DC as the Futura 3 project with an estimated completion date of 2024. While land is secured for the project adjacent to Futura 1 and Futura 2, it is likely to cost BRL 4.69 billion.
It shared this information in a prospectus issued in preparation of its initial public offering (IPO) launch wherein it raised BRL 765 million ($142 million), reported Reuters referring to data published by the country’s securities regulator. It plans to use the proceeds to mainly invest in solar power projects and distributed generation.
Recently another Brazilian state Piaui had an offer from JKL Energy to build largest solar PV plant in the region with 1 GW capacity (see 1 GW Solar PV Plant Proposed In Piaui, Brazil).