Focusing on the company's global growth in the coming years, GreenYellow signed an agreement worth R$63 million with BNDES (National Bank for Economic and Social Development) to finance 11 photovoltaic plants.
The project finance negotiation with the French multinational is the first that the development bank carries out in Brazil for the DG (distributed generation) segment. The resources correspond to 55% of the total value of the assets, valued at R$115 million.
The contribution will be directed to 11 plants under construction or recently connected, located in Planaltina (RS), Riolândia (SP), Cedro (CE), Sentinela do Sul (RS), Ouro Verde (SP), Barra do Jacaré (PR) , Macaíba (RN), Itaperuna (RJ), Barretos (SP) and José Bonifácio (SP).
Together, these photovoltaic farms add up to a total of 27,6 MWp in terms of installed capacity.
According to Marcelo Xavier, CEO of GreenYellow in Brazil, since 2020, the company has been realigning its strategy around the world with the aim of positioning itself not only as a project developer, but also as an infrastructure player.
“The expertise we have gathered over these eight years in Brazil enables us to act throughout the entire life cycle of projects, from the construction of plants to operation, aiming to guarantee high performance of these resources for customers. Therefore, it is part of our plans to facilitate financial agreements that support our growth strategy,” he stated.
For Fernando Slade, CFO of GreenYellow in Brazil, this project is a continuation of other initiatives carried out previously. “Last year, for example, we announced the issuance of greenbonds for investment in energy efficiency, a step that corroborates our vision of diversifying forms of financing within the entire portfolio”, commented Slade.
With this initiative, the bank directs resources to enable clean, renewable and distributed energy in the country. In this way, the institution is aligned with the National Plan on Climate Change, created to develop actions to mitigate climate impact in Brazil and reduce greenhouse gas emissions.
To get an idea of the representativeness of this investment, over the 25-year useful life of the projects it will be possible to reduce 88 thousand tons of CO2, equivalent to what will no longer be emitted into the environment during this period.
Being the first project finance aimed at the distributed solar generation segment carried out by BNDES, this agreement highlights the institution's intention to strengthen businesses aligned with the concept of sustainability in Brazil.
Answers of 3
This choice to build these plants in the aforementioned locations is very strange. And with the exception of Cedro in Ceará and Macaíba in Rio Grande do Norte, generation would be much better if locations were chosen in the North and Northeast that are better located in relation to solar incidence and more in need for agro-industrial development.
With such a contribution at Brazilian level, the profitability of the business would be greater if these plants were placed in the state of Minas due to taxes and the northeast region due to solar incidence.
With such a contribution at Brazil level, it is surprising that the company's CEOs would introduce solar plants in places where there is a lower rate of solar incidence... The profitability of the business would be greater if these plants were placed in the state of Minas due to taxes and northeast region depending on solar incidence.