ArcelorMittal buys majority stake in Brazilian solar holding
Sep 19, 2024 9:29 CESTChinese solar product maker Seraphim Energy Group Co Ltd has entered into a 300-MW distribution deal for its modules with Brazilian energy solutions provider Vertys Energy Group.
Under the terms of the contract, Vertys will be importing and distributing Seraphim's TOPCon bifacial panels across the South American country, the Chinese firm said today. The value of the agreement was not disclosed.
"Brazil represents a dynamic and fast-growing market with significant potential for solar energy. By joining forces with Vertys, we are confident that we will make a meaningful impact in driving the regional energy transition," commented Insan Boy, VP of Global Sales of Seraphim.
Seraphim noted that it primarily supplies 585W N-TOPCon bifacial modules and 610W rectangular-cell panels. According to the company, these particular types of equipment are ideally suited for utility-scale and C&I solar projects.
Presently, the Chinese company has 13 GW of global production capacity, according to the announcement.
ArcelorMittal buys majority stake in Brazilian solar holding
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