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Solatio Energia Plans $14 Million Brazil Solar Project for Mall

Feb. 25 (Bloomberg) -- Solatio Energia, a Brazilian solar developer, will build a 32.5 million-real ($14 million) power plant in the southeastern city of Votuporanga in anticipation of local incentives to encourage renewable energy.

The 6.5-megawatt project will supply energy to a shopping center owned by local company Grupo North Empreendimentos for 20 years, Jaime Sureda, technical director of Votuporanga-based Solatio Energia, said today in a telephone interview.

Sao Paulo, Brazil’s most populous state, may announce next month tax breaks for the purchase of solar equipment and sale of energy from the technology, Sureda said. The Votuporanga project will be Brazil’s biggest when it starts producing power in January.

The power contract with Grupo North is Brazil’s first between a large energy consumer and a solar developer, according to Camila Ramos, managing director of Sao Paulo-based consultancy Clean Energy Latin America, which is helping Solatio Energia raise funds for its Brazilian projects.

The Votuporanga project may be financed as much as 80 percent with debt, she said in a telephone interview today.

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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