Celeo Redes to build 500 MW solar project in Piaui

Celeo Redes Brasil SL plans to build a solar photovoltaic facility in the state of Piaui with generating capacity of 500 MW. 

Celeo Redes in partnership with Dutch pension fund manager APG Management NV will invest up to BRL1.5 billion (US$192.6 million) for the project. APG Management will own a 49% stake in the project while Spanish infrastructure builder Elecnor SA owns the majority of Celeo Redes. 

The solar farm will be built between the northern municipalities of Buriti dos Lopes and Bom Principio do Piaui. The project is expected to be completed by January 2025.