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Gerdau will invest in another solar power plant in Brazil

Monday, 30 September 2024 22:51:14 (GMT+3)   |   Sao Paulo
       

Newave Energy, a JV between the Brazilian steel Producer Gerdau and Newave Capital, will build a solar power plant in Barro Alto located in the Brazilian central-western state of Goiás.

With investments estimated at $240 million, the plant will have a 452-megawatt peak power capacity with operations scheduled to begin in the first quarter of 2026.

Part of the energy generated by the plant will be destined to feed Gerdau plants, while the balance will be sold in the local free market energy system.

Gerdau and Newave are already building a 420-megawatt solar power plant in Arinos, located in the southeastern state of Minas Gerais.


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