Detronic Energia, a Brazilian renewable energy company, has joined forces with investment advisor Appian to embark on an ambitious venture. Together, they plan to develop a series of 20 solar parks in Minas Gerais, Brazil, with a cumulative capacity of 62.4MWp.
The commencement of construction for these solar sites is scheduled for the second quarter of 2023. Minas Gerais, located in Southeastern Brazil, boasts excellent solar irradiation levels and offers attractive fiscal incentives, rendering it an ideal region for the implementation of solar photovoltaic (PV) projects, as affirmed by Appian.
Currently, Minas Gerais stands as the largest distributed generation market in Brazil, with an impressive 2.5GWp already installed.
Andre Barreto, the founder and CEO of Detronic Energia, expressed his enthusiasm about the partnership, stating, “We inhabit a world that thrives on connectivity and electricity, with renewable energy sources leading the way toward a sustainable future. This collaboration is founded on shared purpose, and we are eager to unite the remarkable efforts of our two teams to achieve mutual goals and outcomes.”
Detronic Energia presently operates 34 recently-constructed solar farms connected to the grid, with an additional 47 under construction.
Through this collaboration, Appian, primarily known for its investments in mining companies, aims to enhance its expertise in clean energy and sustainability. The focus will be on integrating renewable projects into Appian's mining sites in the future. Alongside the existing portfolio, Detronic Energia and Appian are also assessing prospects for additional solar farms at various mine sites across Brazil.
Michael W. Scherb, the founder and CEO of Appian, emphasized the significance of environmental, social, and governance (ESG) principles in their mining investments, stating, “ESG lies at the core of our strategy and the success of our investments as a leading mining investor. Through our partnership with Detronic, we have demonstrated our commitment to providing clean energy to our Brazilian portfolio while simultaneously delivering attractive, risk-adjusted returns to our investors.”
