- 500MWp Solar Project to be set up in Brazil
Poontonn Clean Tech, a Brazilian decarbonisation solutions provider, has partnered with Japanese Panasonic Corp to secure a 500MWp solar electricity generating farm for the latter. The agreement between both parties is arranged such that Poontonn Clean Tech will invest USD 331 million for the building, managing, and operating of the adventurous project. The solar complex, which is slated to be located in Ceara, a state in Brazil, will, during a 15 years contract, sell power to Panasonic.
A 1 100 hectares area of land containing 935 000 solar panels will be used for the project. Construction activities are projected to begin this year and be completed by 2023. Beneficiaries of the project include a home appliances factory that Panasonic Corp operates. Power output from the solar farm is expected to meet 65% of the factory’s energy demand.
It is expected that over 60% of Panasonic’s electricity consumption will be self-generated through solar-generated electricity by 2024. Panasonic has also revealed that it has achieved a net-zer0 state for its Brazil-based activities.