Brazilian energy firm Acelen announced on Thursday a partnership through its subsidiary, Mataripe Refinery, with Perfin Infra Administracao de Recursos and Illian Energias Renovaveis to invest in a 161-MW solar project in Bahia.
The project, valued at approximately BRL 530 million (USD 97.8 million / EUR 90.1 million), includes BRL 418.5 million in non-recourse project finance in US dollars secured from the Brazilian Development Bank (BNDES) under the Growth Acceleration Programme (PAC).
Scheduled to begin operations in the third quarter of 2025, the solar plant aims to fulfill Mataripe Refinery's electricity needs. Once operational, it is projected to mitigate 128,000 tonnes of carbon dioxide (CO2) annually, achieving carbon neutrality in scope 2 emissions.
Acelen emphasized its entitlement to the carbon credits generated by the solar facility.
