WEG S.A.(Bovespa: WEGE3 / OTC: WEGZY) has signed EPC (engineering, procurement and construction) contracts to supply a turnkey solution for the photovoltaic solar complexes Coremas I and II. The contracts comprise the construction of two solar plants of 31.12 MWp (Megawatts-peak) of generation capacity each, including substation and transmission line, in the city of Coremas, in the state of Paraiba, in the Northeast region of Brazil.
Coordinated by Nordic Power Partners ("NPP"), a joint-venture between European Energy S/A and Denmark's Climate Investment Fund, and the Brazilian company Rio Alto Energy, the project also comprises the construction of another solar plant (Coremas III), which is expected to be concluded in October 2018. Together, the three plants will add 93 MWp (Megawatts-peak) in generation capacity, with investments up to R$ 423 million.
According to Mr. João Paulo Silva, WEG’s New Energy Managing Director, “We will provide all engineering, procurement management and plant construction, the first of this kind of turnkey EPC project carried out by WEG ", explains Mr. Silva. "Deliveries are expected to start in 2017 and extend through 2018," he says.
For Mr. Sérgio Reinas, Senior Partner of Rio Alto Energy, the main objective of the Coremas complex is to produce clean and renewable energy. "The complex will generate 207,000 MWh a year, enough energy to supply electricity to more than 100,000 homes and will definitely include Brazilian PV solar projects in international landscape (avoid approximately 13 tons on carbon emissions)," he added. Mr. Jens-Peter Zinc, Executive Vice President of NPP, reminds that "the economic and environmental impacts of the project are largely positive for Brazil and for the Northeast region, which has enormous potential for solar energy generation".
About Nordic Power Partners - NPP is a joint-venture between European Energy S/A and Denmark's Climate Investment Fund, created by the Danish Government (Sovereign Fund) and managed by IFU (Investment Fund for Developing Countries), investment fund for emerging markets.
Rio Alto Energy - Founded in 2009, Rio Alto Energy is a company with expertise in the financial market and structuring of infrastructure projects. Currently, it stands out in the prospection, development, economic viability study and financial structuring of solar energy projects.