SPG to invest $250m in Brazilian solar market

6 January 2020 (Last Updated January 6th, 2020 12:31)

Canadian solar development company Solar Provider Group (SPG) is set to invest $250m in the Brazilian solar market over the next five years.

SPG to invest $250m in Brazilian solar market
Dow will use solar energy from Atlas Renewable Energy for 15 years. Credit: Mariana Proença on Unsplash.

Canadian solar development company Solar Provider Group (SPG) is set to invest $250m in the Brazilian solar market over the next five years.

The company has gathered a team to mark its entry into the country’s solar market.

Using its financing, structuring, engineering and development expertise, SPG intends to establish new relationships with solar companies in the country.

SPG team lead Cesar Frota: “I am excited at the opportunity the Brazilian market represents for both Solar Provider Group and the global solar industry. We look forward to building strong partnerships and providing clean, sustainable energy to my home country of Brazil.”

The company further noted that the investment is in line with its global strategy.

In addition, the Brazilian Government has set a target to attract $8bn in private direct investments to create over 160,000 new employment opportunities.

The company is planning to build new relationships with Brazilian corporations that are interested in purchasing solar power at a discount rate compared to the existing retail prices.

SPG said that its solution allows companies to switch a considerable portion of their energy consumption to cheaper and cleaner power.

SPG is an international solar development and investment company focused on the ground-mounted and large-scale rooftop solar projects.

The company has completed more than 200 projects that led to an annual reduction of over 70,000t of carbon emissions on a global scale.