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Brasil Solair Plans to Fund 10 Megawatts of Solar Installations

Jan. 21 (Bloomberg) -- Brasil Solair, the developer of Brazil’s second solar-panel factory, plans to fund the installation of 10 megawatts of its equipment this year because homeowners are reluctant to buy the technology.

The panels will be leased to owners of gas stations, hotels and other buildings and may pay for themselves in eight years, Nelson Silveira, Brasil Solair’s president, said today in a telephone interview.

Many consumers in Brazil are leery of buying panels because it takes years to recoup the investment, Silveira said. The high cost of loans in Brazil to fund purchases has also turned off consumers.

“Brazilians, generally speaking, have a certain difficulty thinking in the medium- and long-term,” when making investment decisions because of the country’s history with hyperinflation, Silveira said.

The panels will be assembled at Rio de Janeiro-based Brasil Solair’s factory in the northeastern city of Joao Pessoa, which is set to begin operations next month, he said. The equipment will save clients as much as 30 percent on their energy bills.

Brazil’s first solar-panel factory is owned by Tecnometal Equipamentos Ltda. and began production at the end of 2011, according to data compiled by Bloomberg New Energy Finance.

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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