The Nova Olinda PV plant will require an investment of $300 million and will provide electricity under a 20-year PPA, with operations expected to commence in 2017.
Enel Green Power Brazil has started work on what will be the biggest solar plant in Latin America. Located in the state of Piaui, the “Nova Olinda” plant will have a capacity of 292 MW and is expected to generate more than 600 GWh annually.
As indicated in Enel’s press release, the company is providing $300 million of investment in the project, that will be financed using Enel’s own resources. The company further states that the Nova Olinda plant should be operational by the second half of 2017.
“The construction of this new plant consolidates EGPB’s leadership in solar PV energy,” commented Carlo Zorzoli, head of Enel in Brazil. The company is currently building a 254 MW PV plant in Ituverava in the state of Bahia, which will be Latin America’s second biggest PV plant, only surpassed by Nova Olinda. Enel signed a 20-year PPA contract for the Ituverava plant that resulted from a tender that took place in October 2014.
The Italian energy group also has the largest PV plant in operation within Brazil. With a capacity of 11 MW, the Fontes Solar plant forms part of the PV and wind hybrid complex, that was inaugurated last year. Enel has a PPA contract in place with the state of Pernambuco for the sale of electricity that is generated by the solar plant, which was acquired as part of the pioneering bid that was held in the state in December 2013.
The electricity generated by the plant that is currently in construction has already been sold for the next 20 years. EGPB was awarded PPA contracts for 553 MW of capacity during a tender that was organized by the central government of Brazil in August 2015. In addition to almost 300 MW from the Nova Olinda plant, the company is developing the Lapa project with a 158 MW capacity, and the Horizonte MP project with a 103 MW capacity. According to the rules of the tender, the energy from the projects must be being supplied by 2017.