Brazil's Gerdau group has entered in an agreement for the acquisition of Solar Arinos Holding S.A., with the purpose of developing, building and operating a solar energy generation park in Arinos, in the southeastern state of Minas Gerais.
The Arinos Solar Park will have an installed capacity of 420 MW, including an energy substation, requiring an estimated investment of $280 million.
The investment will be made via Newave Energia S.A., a company in which Gerdau has an indirect stake of around one-third of its capital.
When operational, the Arinos Solar Park will supply 30 percent of the energy generated to Gerdau's steel production units in Brazil, contributing to the reduction of greenhouse gas emissions.
According to Gerdau, with the energy received from Arinos, equivalent to 7 percent of its consumption in Brazil, the company will reduce by 22,000 mt per year of its carbon dioxide emissions.
