September 7 (Renewables Now) – Brazilian photo voltaic distributed technology (DG) firm Cemig S!M is seeking to enhance its put in capability this yr, leaping to 52 MW from the present 30 MW, Reuters reported on Friday, citing an official.
With a view to fulfil its aim, the unit of Brazilian utility Cia Energetica de Minas Gerais SA (BVMF:CMIG4) is focusing on the acquisition of 49% minority stakes in pre-operational or absolutely accomplished DG methods.
In response to Cemig S!M’s CEO, Danilo Gusmao Araujo, the corporate intends to speculate round BRL 100 million (USD 18.8m/EUR 16m) in solar energy this yr alone.
In all, Cemig S!M foresees an funding of BRL 600 million over the following 5 years in photo voltaic and power effectivity tasks in Brazil, reaching BRL 1.four billion in a ten yr interval.
For future tasks, the corporate, which has been finishing up the transactions utilizing its personal sources, intends to acquire long-term loans with home monetary establishments equivalent to Banco do Nordeste (BNB) and the Minas Gerais Improvement Financial institution (BDMG).
(BRL 1 = USD 0.189/EUR 0.159)