Banco do Brasil, the biggest bank in Latin America, and EDP, world leader in renewable energies, have just launched four plants of photovoltaic solar energy with an installed power of 23 MWp, that will generate energy for 365 subsidiaries of Banco do Brasil. With this agreement, the bank institution, present in more than 21 countries, has seven units of solar energy production, giving thus continuity to the initiative started in 2020, with the inauguration of a project in the state of Minas Gerais, also in partnership with EDP.

One of the new solar parks, which is already operational, is the one of Banco do Brasil in the northeast region of the country, and will provide clean energy to around 140 subsidiaries of the bank, that will stop releasing thousands of tons of carbon dioxide. Only in this park 6 500 solar panels were installed, that will be generating 8 GWh per year. The other three solar plants are located in the Brazilian states of Minas Gerais, Parana and São Paulo.

In October 2022, the two power plants that are already operational under the partnership of Banco do Brasil and EDP passed the mark of 30 GWh produced energy, amount of energy with which it is possible to supply a city with 150 thousand households for a month. The success of this first project has caused the model’s expansion to bank operations in the whole country. In 2023, Banco do Brasil expects to inaugurate more than 20 photovoltaic plants that are already under construction. In total, around 1400 subsidiaries will be covered by the production of renewable energy.

The investment in projects of distributed generation is one of the cornerstones of Group EDP’s growth at a global level, and also in Spain. The company, that already has self-consumption projects of more than 110 MWp in Spain, and more than 1.6 GWp at a group level, has an installed renewable capacity of 25 GW all around the world.

The construction of solar energy plants also has social benefits for nearby communities, as each of the parks generates compensations, like the tree planting in those regions, and the installation of solar panels in social institutions. The modality of distributed generation also brings other benefits to the regions, like the generation of direct or indirect jobs and the improvement of the energy network.

Banco do Brasil, which has as one of its goals to contribute to the sustainable development of the country, is a Brazilian financial institution, established as a mixt economic enterprise, in which the Republic of Brazil has a 70% holding.