BNDES (National Bank for Economic and Social Development) approved financing of R$600 million for the Irapuru Solar Complex, which has seven parks with an installed capacity of 422 MWp.
The project will be part of the Janaúba solar complex and will increase the park's installed capacity to 1,6 GWp. The plant is located in the city of Janaúba, Minas Gerais.
Irapuru Holding SA will be responsible for the financing. The sources are the Climate Fund, which will participate with R$400 million and FINEM, which will participate with R$200 million.
The project is expected to be completed in the first half of 2025. The land area is 800 hectares, which will receive 750 thousand bifacial solar modules and a transformer in the restricted and shared use transmission system of the Janaúba solar complex.
“In addition to being a relevant investment to advance the energy transition process, the Irapuru solar complex should generate R$5 million in increased income in the region and its implementation reaffirms BNDES' role as a global leader in financing renewable energy, according to Bloomberg NEF”, explains Aloizio Mercadante, president of BNDES.
The project is approximately 70% physically complete, involving 1 direct jobs and 4 indirect jobs.
“The approval of this financing by BNDES for the Irapuru solar complex is a significant milestone in our trajectory of ing Brazil’s energy transition. This project not only increases the installed capacity of the largest solar complex in Latin America, but also reinforces our commitment to sustainability and job creation,” comments Márcio Calux, CFO of Elera Renováveis, a shareholder in the project.
“We are proud to contribute to the country’s renewable matrix and to initiatives that promote decarbonization and regional economic development,” he concludes.
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