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Banco do Brasil looking to contract 10 GWh per year of solar DG

Solar array. Author: U.S. Department of Agriculture .

January 21 (Renewables Now) - Brazilian national lender Banco do Brasil SA (BVMF:BBAS3), also knows as BB, will be holding a bidding round on February 3 to contract 10 GWh of solar power from distributed generation (DG) systems.

The lender is looking to contract a minimum of 8 GWh per year for Bahia state and 2 GWh for its operations in Ceara, the bank said on Monday.

With this measure, Banco do Brasil expects to achieve savings of up to BRL 56 million (USD 13.3m/EUR 12m) combined for its electricity bills at 155 branches in the said states.

BB will sign a 15-year power purchase agreement (PPA) with the winners. The bank will start making payments under the lease agreements after the DG plants are up and running.

Once the bidding process is completed, BB should reach seven solar DG units in the country, with the other five in Minas Gerais, Goias, Para and in the Federal District.

(BRL 1 = USD 0.238/EUR 0.215)

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Lucas is based in Brazil. He joined Renewables Now to expand coverage of the Ibero-American market, a highly attractive destination for green energy investment.

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