August 5 (Renewables Now) - Spanish renewables firm Solatio Energia will invest BRL 21 billion (USD 5.40bn/EUR 4.86bn) by 2023 in the development of roughly 7,212 MW of photovoltaic (PV) plants in Minas Gerais, the state government announced on Friday.
In all, ten municipalities will host the PV projects. Of the amount announced, BRL 2.5 billion of investments in 782 MW of new capacity are fully certain. The remainder is planned for the construction of some 6,430 MW in the next four years.
Solatio's president Pedro Vaquer told governor Romeu Zema that about 70% of the solar schemes will be completed by the end of 2022, with the other 30% scheduled for the following year. Eight local towns will have solar parks under construction as soon as December 2019.
The PV farms developed by Solatio will be realised outside auctions, with the output sold on the free market.
(BRL 1 = USD 0.26/EUR 0.23)