Shell Brasil & Gerdau to Build Solar Power Plant in Minas Gerais
Shell Brasil and Gerdau have signed a cooperation agreement for the development of a photovoltaic park in the municipality of Brasilândia de Minas in north of Minas Gerais. The term establishes the premises for discussing and setting up a joint venture. With an installed capacity of 190MWdc, the Aquarii park will supply part of the clean energy to Gerdau's steel production units and another part to be traded on the free market through Shell's energy trading company, as of 2024.
The joint venture, which will have equal participation by the two companies, is part of the energy transition and decarbonization strategy of both. This is Shell Brasil's voluntary step in offering more renewable and sustainable energy products and services, in full alignment with Gerdau's quest for a cleaner energy matrix. Aquarii will also sell energy to free consumers, helping to increase the generation park in the state of Minas Gerais and contributing to the region's energy security with more renewable energy.
About three years ago, Shell Brasil began its strategy of organically developing its portfolio in solar energy generation, which in the energy area are added to the investments in its energy trader, Shell Energy Brasil, and in the Marlim Azul thermoelectric plant. Today, the company has plans to develop solar parks in the states of Minas Gerais and Paraíba. At the same time, this is yet another step by Gerdau towards energy self-sufficiency, together with the strategic direction of entry into the renewable energy generation segment, part of the portfolio of new businesses carried out through Gerdau Next.