Powertis strengthens its position in Brazil thanks to BNDES financing of 30 million euros

• Powertis is a company belonging to Soltec Power Holdings, a publicly listed group, dedicated to the development of large-scale solar photovoltaic projects on an international scale.
• The company currently has 2.3 GW of PV projects at various stages of development in Brazil, consolidating its position as one of the main markets in its global portfolio.
• The funds raised will be used to develop the Pedranópolis solar project in the state of São Paulo, with a combined capacity of 90 MW structured in three 30 MW plants.
• In its commitment to strengthening and boosting the local economy, Powertis will create 1,400 direct and indirect jobs in the region with the development of this project.

Powertis, a Soltec Power Holdings company dedicated to the development of large-scale solar PV projects in Brazil, Italy and Spain, and BNDES, Banco Nacional de Desenvolvimento Econômico e Social do Brasil, have approved financing of 191 million Brazilian Reais (EUR 30.6 million) for a new project in Brazil. Specifically, this is the Pedranópolis solar project, located in the state of São Paulo, with a combined capacity of 90 MW. This project, which will have the capacity to supply up to 125,000 homes, is structured into three plants, each with a capacity of 30 MW.

This is the first solar project with structured financing under the "PLD Suporte" mechanism developed by BNDES, aimed at financing long-term projects in the Brazilian free market (ACL). The term for which this debt is granted amounts to 24 years, which is the longest period in the photovoltaic energy sector by the BNDES in Brazil. In addition, this is the first project that will be signed subsequently after the equipment and panels have been installed.

Following the financing obtained for the Araxá projects in October, the closing of this new financing obtained by Powertis in Brazil demonstrates the good momentum of the photovoltaic sector in the country and the good progress of the projects, as well as the attractiveness and benefits for society and the environment that the development of these projects entails. With the start-up of the Pedranópolis plant, the company maintains its commitment to the communities in which it operates, trying to promote and boost the local economy. Specifically, the construction and maintenance of this plant will create approximately 1,400 direct and indirect jobs in the region, while contributing to the promotion of clean energy.

Thanks to the support and trust placed in it by BNDES, one of the most important banking institutions in the country, Powertis continues to strengthen its leadership position in Brazil, one of the most important countries and one with the greatest weight in the company's business plan, where it has a portfolio of projects of 2.3 GW in different stages of development in the Brazilian market. In this regard, over the coming years, and as part of its expansion strategy, the company expects to continue increasing its presence in this region with a target of more than 6GW of development in the coming years.

This is also the second financing agreed with the National Bank for Economic and Social Development (BNDES), which last October granted another loan to Powertis for 194 million Brazilian Reais for the development of the Araxá 1 and 2 photovoltaic plants, located in the state of Minas Gerais and totalling 112.5 MWp.