Solar power is growing at a tremendous rate, and there are constantly new hot markets jumping onto the scene. One of these hot markets is Brazil. Take a stroll through those archives for a look at some of the big solar news coming out of the soccer superstar. The most recent announcement worth some serious highlighting is that Chicago-based company New Generation Power (NGP) and São Paulo-based company Grupo Léros are looking to build a 500 MW solar power plant (in 30 MW chunks) in São Paulo, Brazil.

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Image Credit: Brazil flag via Shutterstock

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The solar panel installation will actually be in the city of Taubaté. 500 MW is actually “the maximum permitted capacity for a power plant to be eligible for an 80% discount on the electricity transmission tariff (TUST) in Brazil,” PV Magazine notes.

The total cost of the giant solar project is projected to be $ 906 million (BRL2 billion). While the project is to be built by NGP and Grupo Léros, NGP is supposed to have 85% majority ownership.

São Paulo is actually aiming for 1,000 MW of solar energy capacity by 2020, and a whopping 2,700 worth of solar energy capacity is to be up for grabs at an upcoming Brazil renewable energy auction, the first time solar will be competing with super-low-cost wind at such an auction. The megaproject above will be competing in the following Brazil renewable energy auction in December.

All in all, Brazil is looking to become a pretty big solar market. Solar panel installation is booming in countries across the world, including the US of course, but I thin there are few that are as hot as Brazil.

Full Disclosure: This article was supported by eco-Kinetics.

Chicago Company Looks To Build 500 MW Solar Power Plant In São Paulo was originally published on: CleanTechnica.

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