Brazilian natural gas and power utility Eneva SA (B3:ENEV3) has signed a 12-year contract with French steel products maker Vallourec SA (EPA:VK) for the offtake of solar energy in Brazil.
Under the deal, Vallourec will acquire a stake in the 837-MWp Futura I Solar Complex, Eneva said on Friday.
With its portion, the French company will get around 29 average megawatts (MWa), enough to meet about 25% of its total consumption in Brazil.
Eneva said the power supply contract started last month and will last until December 2035.
Located in the municipality of Juazeiro, Bahia state, Futura I required an investment of BRL 2.9 billion (USD 573.5m/EUR 541.5m).
Currently featuring 22 photovoltaic (PV) parks with more than 1.4 million panels, the complex can have its capacity expanded with the addition of 2.3 GW from the Futura II and Futura III projects.
(BRL 1.0 = USD 0.198/EUR 0.187)
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