Korean consortium to invest USD 1.5bn in Brazilian solar farm

A consortium led by Korean firm Enspire KSB Energy plans to invest USD 1.5 billion (EUR 1.3bn) in a photovoltaic (PV) plant in Brazil's Mato Grosso do Sul state.

Detail on the project's capacity have not been revieled. The state government said in a press release on Monday that this will be the Korean company's first investment in the country.

The PV facility is to cover an area of up to 18 million sq m in Anaurilandia town, donated by the city hall. Construction works are expected to begin in approximately one year with commercial operation to start in up to 48 months.

The consortium would enjoy exemptions from payment of environmental compensation for sustainable energy generation, and from the ICMS tax on goods and services for all equipment imported for the solar project. In addition to these benefits, the municipality has been chosen due to its high solar incidence, the government noted.

(USD 1 = EUR 0.90)

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