Italy's Enel Wins Tender for 388MW Solar Power Contracts in Brazil

By Pietro Lombardi and Nathan Allen Features Dow Jones Newswires

Enel SpA (ENEL.MI) said Monday it will build 388 megawatts of solar capacity in Brazil after winning a public tender for several long-term power supply contracts.

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Enel said it plans to invest about $355 million building the Sao Goncalo solar plant in Brazil's Piaui state.

The Italian manufacturer didn't disclose further financial details.

The new plant will be supported by a series of 20-year contracts with a pool of distribution companies active in the country's regulated market, the company said in a press release.

Enel said it expects the plant to start operations in 2021 and to generate more than 850 gigawatt-hours of renewable energy once it comes online.

Write to Nathan Allen at nathan.allen@dowjones.com

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(END) Dow Jones Newswires

December 18, 2017 13:44 ET (18:44 GMT)