Lightsource bp and América Energia partner to offer clean energy to small businesses at a competitive cost
- Companies sign 15-year PPA for energy generated by Milagres solar project, located in the state of Ceará
- PPA includes the issuance of Renewable Energy Certificates (IREC) for the entire period
- Agreement with América Energia furthers Lightsource bp’s growth strategy in Brazilian free market through partnerships with major players in the sector
Lightsource bp, a global leader in the development and management of solar energy projects, entered into a 15 year energy purchase and sale agreement with América Energia, one of the largest independent energy traders in Brazil. This PPA (Power Purchase Agreement) is part of the energy portfolio generated by the Milagres solar plant (210MWp), in Abaiara, in the state of Ceará.
Milagres is expected to start commercial operation in 2024, with investments of R$ 800 million. During the 21 months of construction, 800 direct jobs will be created, with priority being given to hiring local labor. The plant will also reduce the emission of 246,216 tons of carbon dioxide per year, equivalent to the diesel fuel consumption of more than 57,000 cars.
“The PPA with América Energia is a significant milestone in Lightsource bp’s business strategy, as it facilitates financing of the Milagres solar plant, demonstrating the company’s ability to partner with important renewable energy players in Brazil. It is part of our strategy to reach smaller customers, which we are currently achieving through partnerships with traders who want to operate more in retail. In this way, we have achieved the objective that everyone has access to the benefits of solar energy: renewable, competitive and predictable,” highlights Pedro Vidal, VP of Origination and Commercialization at Lightsource bp.
“In addition,” adds Vidal, “the partnership includes the issuance of Renewable Energy Certificates (I-RECs) for the entire period and volume sold. The issuance of I-RECs serves as a vector for generating value for the customer, as it guarantees sustainability and traceability, ensuring that energy comes from a clean source. This is a widely adopted way in the world market to demonstrate sustainable practices in relation to energy generation and consumption, with a focus on offsetting greenhouse gas emissions.”
For America Energia’s CEO, Andrew Frank Storfer, the partnership with Lightsource bp is an example of the company’s strategy to meet the expansion of the free market with renewable and competitive energy. “We have a portfolio of commercialization of mostly renewable energy, and part of our strategy is to increase market share by serving small consumers, such as small industries, hotels, gas stations and commercial establishments in general.”
With a large 4GW portfolio of projects under development divided among the Southeast, Midwest and Northeast regions of Brazil, Lightsource bp expects to meet the growing demand for solar renewable energy contracts, both through corporate PPAs and self-production structures.
In addition to generating energy independence for Brazil, solar energy is a local, reliable and competitively priced resource that is not subject to the exchange rate volatility of fossil fuels or the increase in energy prices due to the restriction of hydroelectric generation during droughts. Due to geographic diversification, the photovoltaic source is able to meet the demands of customers who do not want to take the risk of associating their industrial investment with a solar park in the same state, being able to choose to connect to different points of the national interconnected system in the country.
About Lightsource bp
Lightsource bp is a global leader in the development and management of solar energy projects and a 50:50 joint venture with bp. Our goal is to provide affordable, safe and sustainable solar energy to businesses and communities around the world. Our team includes more than 800 industry experts, working in 18 countries. We provide full scope development for our projects, from initial site selection, financing and licensing to long-term management of solar projects and energy sales to our customers. We are also committed to maximizing the environmental sustainability and positive social impacts of each of our projects.
Based in São Paulo, Lightsource bp in Brazil has 4 gigawatts of solar projects under development with 210 megawatts currently under construction. For more information, visit lightsourcebp.com/brasil, follow us on Twitter @lightsourcebp and Instagram @lightsourcebp, or check out our LinkedIn page.
About América Energy
América Energia S.A. is one of the most renowned energy companies in the country, operating in commercialization, generation, energy management, energy efficiency and infrastructure. With 21 years of experience in the market, it is one of the largest energy managers for consumers and is among the main energy traders in Brazil, with a monthly sale of 600MW per month, equivalent to the consumption of 5 million inhabitants.
With national coverage, América has offices in all regions of the country, in addition to an energy research and development center in Minas Gerais. For more information, visit: americaenergia.com.br or follow the company on LinkedIn.