Lightsource BP, a global leader in the funding, development and long-term operation of solar has been awarded a 200MWp landmark project in the Sixth Brazilian Federal Energy Auction (A-4).
Bidding through a consortium agreement with Enerlife, Lightsource BP has won a 20-year power purchase agreement (PPA) to deliver over 200MWp of solar power by January 2023.
The awarded PPA will allow Lightsource BP to progress the development, funding and build-out five projects in the north eastern state of Ceara. The projects form part of Lightsource BP’s recently announced portfolio and talent acquisition from Enerlife in July.
Lightsource BP will sell 30% of the project capacity to the government at a bid price which marks the first time solar has achieved lower prices than wind at a tender in Brazil. The remaining grid capacity will be marketed to commercial and industrial customers on the free electricity market in Brazil.
Once operational, the projects will collectively generate enough clean electricity to power over 5,000 local homes and save around 6,538 tonnes of carbon per year (equivalent to removing around 1,400 petrol-powered cars off the road each year).
Miguel Lobo, Director of Business Development for Lightsource BP comments:
“This is a huge win for Lightsource BP on many fronts. It not only represents our commitment towards progressing solar across the country but also showcases our innovative revenue model, which has allowed us to achieve such competitive prices – a first of its kind in Brazil.”
He added, “This is a very exciting time for our team in Brazil as we begin to make our mark across the local energy landscape. We want to be a key driver in solar playing a significant role in the national energy mix.”
Vlas Souflis, Director of International Business Development for Lightsource BP, comments:
“Our group centralised procurement strategies, backed by our specialised global structured finance expertise, have allowed us to put forward a very competitive pricing structure. Lightsource BP is committed to driving the global energy transition landscape and our growth and development in Brazil is a big step in achieving our vision.”