Powertis obtains 86 Mn Euro financing for project in Brazil

• The financing agreement with Banco de Nordeste do Brasil totals 520 million Brazilian reals (around 86 million euros) for the development of a plant located in the municipality of São João do Piauí, Brazil, with an installed capacity of 375 MW.
• The project, named Graviola, will generate 1,200 direct jobs in the region and prevent the emission of 52,000 tonnes of CO2 into the atmosphere.
• Powertis continues to strengthen its pipeline, which closed the first quarter of the year with 6 GW of projects in various stages of development, including 2 GW in Brazil, 2.4 GW in Spain and 1.5 GW in Italy.

Powertis, the global solar PV project development division of Soltec Power Holdings, and BNB, Banco de Nordeste do Brasil, have reached an agreement for the financing of a new solar PV project in Brazil worth 520 million Brazilian reals (around 86 million euros).

The project, called Graviola, is located in the municipality of São João do Piauí (Brazil) and will have an installed capacity of 375 MW.

The agreement, which contemplates a credit line for a period of 24 years, at a cost of IPCA + 1.89% per annum, has been advised by Itaca Advisory and takes a further step in the valorisation and magnitude of the company's projects.

As the CEO of Powertis, Pablo Otín:

"The Brazilian market has great growth prospects, as evidenced by the recent milestone of reaching 8 GW of installed operating capacity of photovoltaic solar energy. It is a key market for the company and one in which we are strongly committed to due to its commitment and vision with the energy transition. Our commitment to the country goes beyond the business point of view, as for Powertis the economic and social development of local communities is a priority in our business strategy. We believe that we need to promote the circular economy in the places where we develop solar plants and this is what we will pursue with this new project".

The Graviola project will generate around 1,200 direct jobs in the region in the implementation phase. In this way, Powertis continues to show its commitment and encourage the hiring of workers from the local communities in which it operates, as well as boosting their economy by generating the benefits for society and the environment that come with the development of the projects.

In addition, the plant will prevent the emission of 52,000 tonnes of CO2 into the atmosphere, and will generate energy equivalent to 410,000 homes.

Leadership in the Brazilian market

Powertis continues to strengthen its presence in the Brazilian market, where it currently has more than 2 GW of photovoltaic projects in various stages of development, highlighting the good momentum of the photovoltaic sector in the country. Furthermore, this agreement comes after the company's announcement of the start of construction of two plants in Araxá and Pedranópolis with a total capacity of 225 MW..

In this way, Powertis continues to strengthen its pipeline, which closed the first quarter of the year at record levels with 6 GW of projects in various stages of development, of which 2 GW are in Brazil, 2.4 GW in Spain and 1.5 GW in Italy.

Similarly, Soltec Power Holdings, through Powertis, continues to make progress on its objectives in Brazil, both in the generation and industrial businesses. The company made a significant contribution to Soltec Industrial's operating capacity at the end of the first quarter of the year, adding EUR 27.9 million to the backlog and EUR 720.5 million to the company's pipeline.

About Powertis

Powertis is a company dedicated to the development of photovoltaic energy for large-scale projects in Europe and Latin America. Founded in Murcia, it belongs to the Soltec Power Holdings group. Its objective is the solar development under the values of efficiency, excellence, respect for the environment and the integration of local communities, as well as the creation of employment in the development, structuring, financing, construction, operation and maintenance of the plants.

About Soltec Power Holdings

Soltec Power Holdings is a leading company specialising in integrated solar PV solutions with a focus on solar tracking systems and a strong commitment to innovation.

Headquartered in Molina de Segura, Murcia, Spain, Soltec Power Holdings has been operating since 2004 and has a diversified geographic presence focused on Spain, North America and Latin America. It is present in 16 countries with more than 1,320 employees. Since its incorporation, Soltec has supplied trackers for projects with a total of approximately 8.4 GW of installed capacity. The company has been listed on the Spanish Continuous Market since 28 October 2020 under the ticker 'SOL'.