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.
Enel said it plans to invest about $355 million building the Sao Goncalo solar plant in Brazil's Piaui state.
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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.
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(END) Dow Jones Newswires
December 18, 2017 13:44 ET (18:44 GMT)