The companies Andrade Gutierrez, BMPI Infra and GreenYellow entered into a partnership and created Evolua Energia, which will operate in Minas Gerais in the distributed generation segment and will serve small and medium-sized businesses, condominiums and companies served by the low voltage network. The initial investment was R$160 million.
The first plant, located in Pirapora (MG), should start operating in October with a capacity of 7,5 MWp. The investment of R$25 million included only the partners' own capital.
The goal is that, when the company starts earning, it will be possible to use financing to leverage the expansion plan. The objective is to reach 2021 MWp by the end of 50 and serve more than 3,6 consumers.
According to Evolua Energia, Minas Gerais was the first operating state chosen due to its good insolation rates and ICMS exemption policies for distributed generation from solar sources. The aim is to expand operations throughout the country in 2021.
The project was conceived by Andrade Gutierrez's equity arm, AG Participações, in 2018. In 2019, it attracted the interest of GreenYellow and this year BMPI Infra showed interest in participating. Each partner owns a third of the company. The forecast is that Evolua will earn approximately R$12 million per year.
