Enerside closes agreements and financing to carry out two projects in Brazil that will add 255 MW to its portfolio

THE GROUP IS MOVING TOWARDS ACHIEVING ITS OBJECTIVES IN IPP PROJECTS FOR 2023 THAT WILL GENERATE A RECURRING EBITDA OF 17 MILLION

  • The Pudong I project has obtained permission for grid connection and construction will begin in the second half of next year.
  • Enerside has also obtained financing from BNB (Banco do Nordeste de Brasil) and an agreement to start the work of Ribeiro Gonçalves.
  • With these advances, Enerside has more than 270 MW in the development or construction phase of IPP projects and is approaching the goal for 2023 of 330 MW.

Barcelona, 28th December 2022. Enerside Energy, a Spanish company vertically integrated in the photovoltaic solar industry, has increased its portfolio of projects under construction or RTB (Ready to Build) to 270 MW, thanks to the obtention of the necessary permits or financing.

The Pudong I project located in the province of Ceará, which has a capacity of 207 MW, has just obtained the Access Opinion, a permit that guarantees the connection to the grid. This work already has environmental and construction licenses and once it has financing it is estimated that construction will begin in the second half of 2023. 

Another major project of the Enerside group in Brazil is Ribeiro Gonçalves, for which it has reached an agreement to start its construction, scheduled for the first quarter of 2023. A year ago, Enerside sold a part of this project, 280 MW out of a total of 322 MW, in the pre-RTB (Ready-to-Build) phase. With the remaining 42 MW it also had the option to sell or build and directly operate the facility and has finally chosen to maintain management. For this work, Enerside has closed the financing of BNB (Bank of the Northeast of Brazil) and is in the very advanced negotiation phase for the signing of a PPA with one of the main industrial groups in Brazil.

They will generate a recurring EBITDA of 17 million euros

With the progress of these two projects, Enerside already reaches more than 270 MW under construction or RTB, which means high visibility for the fulfillment of its business plan, which aims to reach more than 330 MW by the end of 2023.

Once operational, these projects will generate a recurring EBITDA of 17 million euros per year in the group’s accounts.

Enerside Energy landed in Brazil in 2014. Since then, it has consolidated its commitment to the country where has three offices (São Paulo, Fortaleza and Belo Horizonte), and more than 30 people working, team which will increase considerably in the coming years. These growth figures consolidate Enerside’s position as one of the leading developers of photovoltaic projects in the country, with a portfolio of own projects of more than 4 GW of capacity, entirely developed in-house.

About Enerside

Enerside is a company in the photovoltaic solar energy sector, vertically integrated, and stands out for its marked industrial profile and geographical diversification in the markets with the greatest potential for solar energy (Spain, Italy, Brazil, and Chile).

The company is currently immersed in promoting the development of 5.5 GW in differentiated, highly qualified projects with an advanced degree of maturity that give it an excellent position to capture the growth of demand and a great capacity to generate value, through the sale of projects in RTB (Ready To Build) phase and with the direct exploitation of part of the pipeline as an independent energy producer (IPP).

Learn more at  www.enerside.com

Press contact:
Laura Sabaté
Project Manager
l.sabate@romanrm.com
Phone num. 616 952 066

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