Chinese firms to invest USD 1.5bn in Mato Grosso renewable

Chineses companies will invest some BRL 5 billion (USD 1.53bn/EUR 1.25bn) in Mato Grosso's renewable energy sector in the next five years, the state government announced today.

The investments will be made in solar photovoltaic (PV) and biofuel projects, including two projects in progress and one under development. Mato Grosso expects that more than 2,000 jobs will be created during the course of this investment.

Among the 11 companies that have expressed interest in opportunities in the state, the government mentioned Sepco1 Construcoes do Brasil Ltda, a unit of PowerChina (SHA:601669). The firm is planning on the construction of a BRL-1-billion PV plant. Sepco1's administrative coordinator, Bernardo Nien, added that the company is also also interested in wind energy developments.

As regards to biofuels, Mato Grosso state highlited FS Bioenergia's investment of about BRL 1 billion in a second corn ethanol plant with the capacity to produce 680 million litres (179.6m gallons) per year.

(BRL 1 = USD 0.31/EUR 0.25)

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