Appian Capital Advisory LLP, an investment advisor specializing in mining, has signed a clean energy partnership and equity investment with Detronic Energia, a renewable energy solutions provider in Brazil. The partnership aims to develop a portfolio of 20 solar parks with a total capacity of 62.4MWp in Minas Gerais, a key mining region in Brazil with favorable solar conditions.
In addition to these projects, Appian and Detronic are exploring opportunities to establish additional solar farms at Appian’s individual mine sites across Brazil.
The energy pricing environment, low project risk execution, and fiscal benefits for solar generation in Minas Gerais are key benefits of the Detronic partnership, which is set to deliver attractive risk adjusted returns for Appian’s investors, the company said in a statement.
Furthermore, the partnership aligns with Appian’s strategy to decarbonize its operations and improve margins by incorporating clean energy solutions. The collaboration with Detronic will enable Appian to reduce carbon emissions, lower energy costs, decrease margin volatility at its mining operations, and enhance its in-house expertise in clean energy solutions.
Furthermore, the development of renewable energy projects in Brazil will serve as a hedge against future energy price increases.
Detronic’s construction arm will lead the development of the solar sites in Minas Gerais, leveraging its standardized design and repeatable execution methodology. Detronic has 34 solar farms recently built and grid connected as well as a further 47 under construction.
Source: PRESS RELEASE
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