Shell will invest R$7 billion in solar energy in Minas Gerais

A Shell Energy Brazil, a Shell subsidiary focused on renewable and sustainable energy options, and the Government of Minas Gerais signed, this Monday (30), a protocol of intentions that foresees investments of R$ 7 billion in solar energy in the State. 

The agreement signed between the parties provides for studies to install five solar plants in the cities of Corinto, in the central region, Arinos and Brasilândia de Minas, in the northwest region, and Janaúba and Várzea da Palma, in the north of the State. 

When all solar plants are built, the complexes will be able to generate up to 2,1 GW – enough to supply a city of up to two million inhabitants. Works are expected to begin in January 2023, with the first complex expected to come into operation two years later, in January 2025.

Since last year, Shell has been announcing actions in favor of renewable energy, especially with plans to install solar plants in Brazil. 

In February, the company signed an agreement with the mining company Gerdau to form a joint venture for the development, construction and operation of a new solar park in the State of Minas Gerais, to be built in 2023. 

The oil company will also be the company responsible for starting the operationalization of the country's first green hydrogen plant, with a pilot plant at Porto do Açu, in Rio de Janeiro. The project is expected to be ready in 2025, with an initial capacity of 10 MW, reaching 100 MW.

Duties exemption assistance

In November 2021, the Government of the State of Minas Gerais, through the Ministry of Finance, also granted exemption from ICMS on import operations of equipment and components for generating solar and wind energy.

The measure guarantees projects installed in Minas Gerais territory access to good component suppliers, in addition to those already existing in the state, improving competitiveness in this market. The tax exemption also covers energy production itself.