Enerside Announces 255MW of Solar in Brazil

Enerside announces the closing and financing of two projects in Brazil, adding 255MW to its portfolio.

Two major projects

Enerside announces that the Pudong I project has been approved for grid connection. In addition, construction is expected to begin in the second half of 2023. The company also obtains financing from Banco do Nordeste do Brasil to start up the Ribeiro Gonçalves site.

Enerside has over 270MW of IPP projects in the development or construction phase. This brings the company closer to its goal of 330MW by 2023. The Spanish company continues to grow towards its objectives.

The Pudong I project is located in the province of Ceará and will have a capacity of 207MW. This project already has environmental and construction permits. The Ribeiro Gonçalves project is expected to begin in the first quarter of 2023.

EBITDA of €17 million

A year ago, Enerside sold part of this project, 280MW out of a total of 322MW. For the remaining 42MW, Enerside retains the management. In addition, the company could sign a PPA with one of the main industrial groups in Brazil.

These two projects will generate a recurring EBITDA of €17 million for Enerside. Moreover, they offer a great visibility on the realization of its business plan. Indeed, it aims to reach 330MW by the end of 2023.

Enerside Group has been operating in Brazil since 2014. This makes the company one of the leading developers of photovoltaic projects in the country. It has its own project portfolio of more than 4GW of capacity.