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Tecnometal, NGP to Sign Power Contract for Brazil Solar Project

Tecnometal Equipamentos Ltda., Brazil’s only photovoltaic panel maker, and the U.S. developer New Generation Power expect to complete a contract this week to sell energy from solar project to the municipality of Itajobi.

The electricity will be sold for less than the rates the local government pays for public lighting, which may cost as much as 400 reais ($193) a megawatt-hour, Carlos Evangelista, business manager for Tecnometal, said today in a telephone interview. He expects to sign the 20-year contract Nov. 22 with the city in Sao Paulo state.

The 1-megawatt project, which will cost 7 million reais, is scheduled to be complete in the second half of next year and may be expanded to 3 megawatts in 2014, he said.

To contact the reporter on this story: Stephan Nielsen in Sao Paulo at snielsen8@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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