Brazil’s recent solar growth is attracting another major player into its market.
According to py magazine Chinese electric vehicle manufacturer BYD has agreed in principle with the labour office in Campinas, Brazil, for a new solar PV manufacturing plant. BYD plans on spending $45 million (150 million Brazilian Reals), for the new solar manufacturing facility. This will go next to BYD’s bus manufacturing plant, and will create ~300 jobs. It’s expected the 200 MW new plant will start assembling solar panels in 2017.
BYD chose Brazil for its solar manufacturing plant because of its growing solar capacity. In 2016, Brazil will have a capacity of 30 MW of solar power with 39 power plants. Brazil’s solar capacity is expected to increase to 2,734 MW in 2019 from 134 plants.
“Such positive trend has prompted BYD Energy to set up PV module manufacturing in the country, resulting not only in the growth of the company’s sustainable development platform in South America but also in significant job creation and strengthening of a new productive chain in Brazil,” BYD added on why Brazil is a good choice for tits new solar plant.
Brazil has the potential of becoming a renewable energy superpower. Hydropower supplies more than 75% of Brazil’s electricity third behind the United States and Canada for total production. Brazil has also grown its wind capacity with 8,700 MW of installed wind energy.
When available, hydroelectric power now provides clean and abundant energy. However drought concerns in 2015 have Brazil looking at diversifying its energy portfolio to include more renewable sources, including wind and solar power.
BYD’s decision to support a new manufacturing plant in the heart of São Paulo is helping transform Brazil into a renewable energy superpower.