Bolt and Orion-E will build solar power plants in Brazil for about $630 million

An employee works among solar panels at the Bemol Solar factory outside Manaus, Amazonas state, Brazil August 23, 2021. Picture taken August 23, 2021. REUTERS/Bruno Kelly

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SAO PAULO, Aug 23 (Reuters) – Energy infrastructure company Orion-E has reached a deal with energy trader Bolt to build solar photovoltaic power plants in Brazil with a combined capacity of 500 megawatts (MW), said a company executive on Tuesday.

The solar venture is expected to cost around 3.2 billion reais ($627.49 million) in investments and will be located in several Brazilian states, including Minas Gerais, said Hugo Albuquerque, director of communications for Orion-E, to Reuters in an interview.

Orion-E, a relatively new player and owned by private equity-backed Domus Holdings, already has a portfolio of 1.2 GW wind and solar projects of varying sizes completed or under development, Albuquerque said.

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The projects will involve small-scale production and are expected to be operational within the next 24 months.

Under the agreement, Orion-E will develop the projects, while Bolt will sell the energy to consumers.

($1 = 5.0997 reais)

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Reporting by Letícia Fucuchima; Editing by Leslie Adler and David Gregorio

Our standards: The Thomson Reuters Trust Principles.

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