SunEdison and Brazil-based Renova Energia have come together for a joint venture to build, own, and operate 1 gigawatt (GW) capacity of utility-scale PV, which will supply power to the Brazilian regulated electricity market. Both the companies will share a 50–50 stake in the JV. The venture will come up with four utility-scale solar power plants in Bahia State (Brazil) by 2017.
Renova is the largest renewable power generation company in Brazil (by installed capacity). It was among the winners in Brazil’s first auction for PV projects and won contracts for 107 MW capacity.
SunEdison will invest another $30 million in a 140 MW per year solar panel factory in Brazil, which is expected to start operations by 2016. The factory will make PV modules and tracking systems, possibly with a focus on the Brazilian domestic market.