Omega acquires Brazil solar stake from EDF, Canadian Solar in $383mn deal
Brazilian renewable energy company, Omega Geracao, has made a deal to acquire 50% of a solar complex in the south-east of the country, marking the company’s first foray into the solar energy space.
The Pirapora solar complex, located in the state of Minas Gerias, has a total capacity of 321MW. Omega will buy shares from EDF Renewables and Canadian Solar Projects UK Ltd. The complex is Brazil’s largest photovoltaic site and is composed of 11 plants connected to the national network.
The Brazilian firm will buy a 30% stake from EDF and a 20% stake from Canadian Solar, for a total estimated value of $383.3mn (€249.2mn).
Following the deal, solar energy will make up 25% of Omega’s installed capacity, with wind making up 62% and hydroelectric amounting to 13%.
Omega Geracao’s CEO, Antonio Augusto Torres de Bastos Filho, said: “We are proud to partner with a world-class player like EDF Renewables and believe this to be the first step in a long-lasting relationship. Our relationship with Canadian Solar, one of the world leaders in solar energy and supplier of photovoltaic modules installed in Pirapora, opens doors for future opportunities in solar energy generation in the country.”
All but two UK regions failing on school energy efficiency
Most schools are still "treading water" on implementing energy efficient technology, according to new analysis of Government data from eLight.
Yorkshire & the Humber and the North East are the only regions where schools have collectively reduced how much they spend on energy per pupil, cutting expenditure by 4.4% and 0.9% respectively. Every other region of England increased its average energy expenditure per pupil, with schools in Inner London doing so by as much as 23.5%.
According to The Carbon Trust, energy bills in UK schools amount to £543 million per year, with 50% of a school’s total electricity cost being lighting. If every school in the UK implemented any type of energy efficient technology, over £100 million could be saved each year.
Harvey Sinclair, CEO of eEnergy, eLight’s parent company, said the figures demonstrate an uncomfortable truth for the education sector – namely that most schools are still treading water on the implementation of energy efficient technology. Energy efficiency could make a huge difference to meeting net zero ambitions, but most schools are still lagging behind.
“The solutions exist, but they are not being deployed fast enough," he said. "For example, we’ve made great progress in upgrading schools to energy-efficient LED lighting, but with 80% of schools yet to make the switch, there’s an enormous opportunity to make a collective reduction in carbon footprint and save a lot of money on energy bills. Our model means the entire project is financed, doesn’t require any upfront expenditure, and repayments are more than covered by the energy savings made."
He said while it has worked with over 300 schools, most are still far too slow to commit. "We are urging them to act with greater urgency because climate change won’t wait, and the need for action gets more pressing every year. The education sector has an important part to play in that and pupils around the country expect their schools to do so – there is still a huge job to be done."
North Yorkshire County Council is benefiting from the Public Sector Decarbonisation Scheme, which has so far awarded nearly £1bn for energy efficiency and heat decarbonisation projects around the country, and Craven schools has reportedly made a successful £2m bid (click here).
The Department for Education has issued 13 tips for reducing energy and water use in schools.