Italian Utility Enel has started construction of the 292MW Nova Olinda solar plant in Brazil through its subsidiary Enel Green Power Brasil Participações (EGPB).
The plant will cover an area of 690 hectares and will have the ability to generate more than 600 GWh per year — enough to meet the annual energy needs of some 300,000 Brazilian households while preventing the emission of roughly 350,000 tonnes of CO2 into the atmosphere.
“The start of construction of Nova Olinda is another step forward for our Group in Brazil, confirming our leadership in the country’s solar market,” said Carlo Zorzoli, Enel’s Country Manager for Brazil.
“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”
EGPB already runs the country’s largest solar project currently in operation, the 11MW Fontes Solar plant, and is building the 254MW Ituverava, which will be Brazil’s second-largest solar project. The company is investing approximately US $300 million in the construction of Nova Olinda.
The solar plant will be supported by a 20-year power purchase agreement (PPA) that permits the sale of the energy generated by the plant to the Brazilian Chamber of Commercialisation of Electric Energy.
Once completed, Nova Olinda — which is located in Ribeira do Piauí in Brazil’s north-eastern state of Piauí — will be the largest solar project in Latin America.