Powertis has announced that it will develop 2GW of solar PV projects during the next three years in Brazil and Spain, with 1GW in each country.
Established a year ago, the Madrid-headquartered Powertis has secured power purchase agreements (PPAs) for 1GW in Brazil. Additionally, it is offering turnkey services to the Spanish market, ranging from feasibility study to project financing.
Powertis CEO Pablo Otín said: “In less than 15 seconds, enough energy from the sun reaches the Earth to keep the world running using clean energy. For this reason, we are convinced that the future will be solar.
“At Powertis, we focus on large projects that use the latest technology, minimize the cost of solar, and let us negotiate sophisticated bilateral contracts, with the ultimate goal of offering a guaranteed and sustainable return to our investors.”
Construction on the initial projects in Brazil are expected to start in the first quarter of 2020 and the complete portfolio of more than 1GW is expected to be connected to the grid before December 2021.
Otín added: “Our main goal is to establish Powertis as the leading company in the bilateral market in Brazil. We are taking advantage of these opportunities to showcase our team’s unique knowledge when it comes to contract and finance this type of projects.”
The company said that Brazil, along with Spain, are two of the most active regions in the global PV market in bilateral PPAs.