Gerdau, a steel manufacturer in Brazil, has unveiled plans to invest $240 million in a new solar energy project designed to reduce its greenhouse gas emissions. The initiative will be implemented in partnership with Newave Energia, a joint venture formed between Gerdau and asset manager Newave Capital. The proposed solar plant, which will have a capacity of 452MWp, is set to be constructed in Barro Alto, located in the state of Goiás, with a projected start for commercial operations by early 2026.
The financing for this substantial project will be sourced from Gerdau's own capital in conjunction with funding from the country's central-west development superintendency, Sudeco, managed by state-run Banco do Brasil. This approach aligns with Gerdau’s ongoing efforts to transition towards renewable energy sources within its operational framework, aiming to significantly cut down on carbon emissions.
This solar project marks a strategic move in Gerdau’s broader decarbonization agenda, reflecting the steel industry's increasing shift towards sustainable energy solutions. Gerdau already stands out for having greenhouse emissions that are 50% lower than the global average for the steel sector, according to statements from Elder Rapachi, executive director of Gerdau Next.
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