Cemig seeks partners for $1.15 bn solar project
Following Brazil's announcement to increase its solar power capacity to 3.5 GW by 2023, Brazilian company Cemig is planning to build a $1.5 bn solar power project in Minas Gerais, Brazil. The company is looking to partner with local photovoltaic panel&nbsp;manufacturers.&nbsp;
Cemig, a utility in Brazil, is planning a BRL4-billion ($1.15 billion) solar power project in Minas Gerais. And the company is seeking a partner with technological competence and experience in clean energy project development.

According to a Reuters report, Cemig plans to source the photovoltaic panels for its project from local manufacturers, supported by the partner willing to transfer technology.

The company has not disclosed details of location of the facility or deadline for its initiation.

However, it has stated that the project is likely to take three years for completion after partners are selected and a final investment decision is made.

Minas Gerais has an abundance of insolation and ranks among the best such sites in the world.

The Brazilian state is also rich in silicon, a key raw material required for solar panel production. Cemig is considering the state for the project considering its potential in these terms.

In recent times Brazil has been focusing on development of clean energy projects, particularly solar power initiatives, after being reluctant early on.

The South American country has announced that it is targeting 3.5GW of installed solar power capacity by 2023. It is part of the country’s renewable energy target announced in view of the global climate summit in Paris this December.

The government of Brazil has also launched the Investment Program in Electric Power (PIEE) as part of which it will contract 10 to 15 gigawatts of new renewable energy projects between August this year and December 2018.

Recently, Brazil received solar energy project proposals for 20.593 gigawatts from 649 bids at the national renewable energy auction.

Wind energy project proposals at the auction stood at 17.964 gigawatts from 730 proposals.

Brazil conducted its first solar energy auction last year and received more than 1 GW of new solar energy projects started.

Bahia is the region in the country with the largest number of bids — 192 solar energy proposals totaling 6.05 GW of potential generation capacity, and 243 wind energy proposals also for 6.05 GW of projects.

The country will also be holding a solar energy only auction later this month, which has 382 registered proposals totaling 12.528 GW of proposed capacity.

Ajith Kumar S

editor@greentechlead.com