Lapa Solar Park

Active

Prospective

The Italian Enel Green Power, was granted the authorization to build four solar power plants located in the state of Bahia, municipality of Bom Jesus da Lapa (120 MW in total capacity). The 35-year contracts were signed with the regulatory agency ANEEL starting in April 2016. The company Enel Green Power Brasil Participacoes created two special purpose companies to manage the projects: UFV Lapa I - Enel Green Power Bom Jesus da Lapa Solar S.A. (30 MW) UFV Lapa II - Enel Green Power Bom Jesus da Lapa Solar S.A. (30 MW) UFV Lapa 2 - Enel Green Power Nova Lapa Solar S.A. (30 MW) UFV Lapa 3 - Enel Green Power Nova Lapa Solar S.A. (30 MW) The total investment in the power plants was estimated at US$ 173.3 million (BRL 641.6 million), financed with the sponsor's equity. Construction works commenced in April 2016, and were expected to be concluded by 2017. The government periodically runs public bidding for the sale of energy to the country´s distribution companies. The power plants won the public bidding that took place in August 2015 by offering an average tariff of US$ 82.2/MWh (BRL 304.33/MWh). The project companies signed 20-year power purchase agreements with the several electricity distribution companies. The company was granted the right to take part in the government program called Regime Especial de Incentivos para o Desenvolvimento da Infra-Estrutura (Reidi). Companies selected to take part in this program were given tax cuts in the acquisition of capital equipment and construction material acquired both in the domestic and international markets (this incentive represented a cost reduction of about 9.25%). In addition, the company was allowed to use accelerated depreciation methods of accounting for construction expenditures.

Energy

World Bank Group

Project

Commercial, Car parking, Power Generation (CCGT), Solar, Steel, Government, Automotive, Manufacturing (Industrial)