Vale plans to build 766 MW solar project in Brazil
Vale SA is planning to build a 766 MW solar photovoltaic project in the municipality of Jaiba in Minas Gerais State in Brazil. The Sol do Cerrado project includes 17 sub-parks, implementation of an elevator substation, transmission line and connection bay at the 230 kV Jaíba Substation, with contracts signed for connection to the Brazilian National Interconnected System.
With investments of around US$ 500 million for its implementation, due to its location and scope, the Project is eligible for sustainable financing lines. The project will provide a reduction of approximately US$ 70 million per year in electricity costs.
The project, with operational start-up by the fourth quarter of 2022, will produce approximately 193 average megawatts (MW) of energy per year for Vale's operations, corresponding to 13% of Vale's estimated demand in 2025.
The project was approved by Vale's Board of Directors and is subject to customary closing conditions, including approval by the National Electric Energy Agency (Aneel).
The Project is part of a total of US$ 2 billion in investments to reduce carbon emissions by Vale. Its development is an important contribution to the goal of 100% energy self-production from renewable sources in Brazil, by 2025, and 100% consumption of renewable electricity, globally, by 2030.
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