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 contemplates the construction of a photovoltaic plant, including 17 sub-parks that total an installed capacity of 766 megawatts peak (MWp). It also includes the 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 could help in 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 (MWa) 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).
