The projects came into being after Kroma won a tender last year. Brazil offers 20-year Power Purchase Agreements (PPA). As such, the solar farms, expected to produce 305,000 MWh a year, will provide annual revenue of USD 28 million (EUR 26 million) when they become operational, which will be in the fourth quarter 2018 at the latest.
"With these projects, we are securing a strong foothold in Brazil, a large and growing solar market. We see positive developments in the Brazilian economy and continued government support for renewables," says Raymond Carlsen, CEO of Scatec Solar, in a press release.
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