China Development Integration (CDIL) and China Machinery Engineering (CMEC) have signed a development agreement to invest and finance a 1100MW solar project in Port Açu and other locations in Brazil.
The project will involve an investment of around $1bn in the form of engineering, procurement, construction and financing (EPC+F), as well as additional equity funds, which will come primarily from China.
It is planned to be built in different stages. The initial phase will have a capacity of 300MW and cover a 6.6 million square metre area.
The second phase of the solar facility, with an 800MW capacity, will be located in four blocks with a total area of around 11 million square metres.
Originated by Brazilian entrepreneur Eike Batista, the project will be developed by CDIL’s subsidiary, China-Brazil Integration Group, through a special purpose vehicle in Brazil.
CDIL official Edmond Amir said: “We depend on strong EPC partners that are innovative and provide the highest levels of quality and safety, and we are honoured to partner with CMEC because of their strong track record and expertise around the world.”
CMEC will serve as the EPC partner for the project and provide a complete range of professional solutions, including engineering design, procuring local materials and services and project construction.
It will engage with a local Brazilian engineering firm to handle the operations locally.
CMEC senior engineer and general manager counsellor Liu Cansheng said: “CMEC is very pleased to have the opportunity to participate in this milestone clean energy project in Brazil.
“This is the first of a series of projects we are going to jointly execute with CDIL and Mr Batista.”