Scatec Solar has signed an agreement with Kroma Energia Ltda. and its partners, securing four PV plants totalling 150MW (DC) co-located in the state of Ceará in Brazil.
The projects were bid and won by Kroma in the auction process held by ANEEL in November 2015. The project companies have 20-year Power Purchase Agreements (PPAs) with ANEEL and are expected to produce about 305,000MWh annually, generating revenues of about BRL 95 million per year (USD 28 million). The PPAs stipulate that the plants shall be in commercial operation within the fourth quarter 2018.
"With these projects, we are securing a strong foothold in Brazil, a large and growing solar market. We see positive developments in the Brazilian economy and continued government support for renewables," said Raymond Carlsen, CEO of Scatec Solar.