Spain’s Elecnor intends to invest USD 300m in Brazilian PV project

July 8 – Spanish power company Elecnor SA (BME:ENO) plans to invest more than BRL 1 billion (USD 301m/EUR 273m) in a solar photovoltaic (PV) project in the Brazilian state of Piaui.

Brazilian firm Celeo Redes Brasil, Elecnor’s local unit, will be the one to implement the project in the municipality of Sao Joao do Piaui, the state government announced on Thursday. The firm intends to participate with this project in the federal energy auction scheduled for October 28. If successful at the tender, the plant should be up and running by the second half of 2019, Elecnor executive Marcelo Vinicius said.

The facility is designed to generate around 450 GWh of electricity per year, enough to meet power demand from roughly 220,000 local homes.

Earlier this week, Italian energy company Enel SpA (BIT:ENEL) started construction work on the 292-MW Nova Olinda solar power facility, also located in Piaui state.

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