Brazilian conglomerate Grupo Rio Alto is planning to deploy another 210 MW of solar plants in the state of Paraiba. It has announced in a press release it intends to expand the capacity of its Coremas solar complex from 93 MW to 300 MW.
The complex, located in the desert of Paraiba, Southern Brazil, currently consists of three units: the Coremas I, II, and III, of around 30 MW each, which were selected in the first three renewable energy auctions held by the Brazilian government between 2014 and 2015,
The company stated that the planned new seven facilities are approved by local authorities and ready to build, and that these projects are intended to compete in Brazil’s future auctions for solar and renewables.
The project is being financed by local banks Banco do Nordeste and Banco BTG Pactual, while also being financially backed by the European Union, and Nordic Power Partners, a joint venture between the IFU (Danish Sovereign Fund) and EE (European Energy).