November 22 (Financial Eye) – Brazilian power utility EDP Energias do Brasil SA (B3:ENBR3) has signed a self-production agreement with health and dental care group Hapvida NotreDame Intermedica for 30.5 MWac of solar power in Brazil.
The 15-year private contract with the power company will help Hapvida meet around 85% of its energy demand in the coming years.
Located in the Brazilian state of Sao Paulo, the photovoltaic (PV) park is the result of a 50/50 investment partnership between EDP Brasil and EDP Renovaveis SA (ELI:EDPR) and is scheduled to go online in 2024.
The companies also entered into a partnership for the migration of the healthcare group’s units to the free energy market and for the supply of energy to these units until the solar plant starts operation.
EDP noted it is building five distributed generation (DG) solar farms which will supply 55% of Hapvida NotreDame units that operate in low voltage.
The closure of the deal is pending approval by the Brazilian antitrust regulator CADE.