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[PRESS RELEASE] Faro Energy launches new solar plant in Pernambuco, Brazil

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Faro Energy launches new solar plant in Pernambuco, Brazil

 

The Solar power plant will generate 1,027 MWh/year, equivalent to the electricity required for 700 houses in the state of Pernambuco

 

Faro Energy, an English group which invests in solar energy projects across Latin America, has launched its new solar power plant in Brazil. It is located in Afogados da Ingazeira, a countryside region of Pernambuco, and is the third power plant in operation by Faro Energy in Brazil, just a few weeks after the inauguration of another power plant in Pirapora, Minas Gerais.

 

The BRL 2.5 million (US$ 750k) project includes over 1.440 solar panels and produces 475 kWp power. The system covers 15,000 m² of built surface and will generate 1.027 MWh of clean energy each year, equivalent to that used by more than 700 households in Pernambuco State. The new system will avoid the emission of 452 tonnes of carbon dioxide each year.

 

The project started operation in April 2019. The solar plant is part of a long-term system rental agreement between Faro Energy and a local retail group. The main purpose of the project is to provide energy to more than 14 stores in the state of Pernambuco.

 

The upfront investment required to build solar power plant was made entirely by Faro Energy as a part of the agreement with the client, which benefits from all of energy produced by the system and injected into to the local distribution grid. The client can use the energy credits at any of their facilities within the covered area.

 

The long-term rental agreement includes all the operation and maintenance for the plant to be provided by Faro Energy and its partners. "The potential for solar power in the Northeast region of Brazil is huge”, said Pedro Mateus, Faro Energy's Head of Brazil and CFO. “Solar irradiation is naturally very high in the region, creating attractive investment opportunities.” added Mateus.

 

 

 

About Faro Energy:

The Faro Energy Group, headquartered in London, invests in and develops renewable energy projects in Latin America. As of 2019, it is primarily focused on the rapidly growing distributed solar generation market in Brazil. Faro invests 100% of necessary capital to build, operate and maintain all solar power plants, establishing a long-term rental agreement with its client. Faro is very proud to be a B Corp.

 

 

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Faro Energy launches new solar plant in Pernambuco, Brazil

 

The Solar power plant will generate 1,027 MWh/year, equivalent to the electricity required for 700 houses in the state of Pernambuco

 

Faro Energy, an English group which invests in solar energy projects across Latin America, has launched its new solar power plant in Brazil. It is located in Afogados da Ingazeira, a countryside region of Pernambuco, and is the third power plant in operation by Faro Energy in Brazil, just a few weeks after the inauguration of another power plant in Pirapora, Minas Gerais.

 

The BRL 2.5 million (US$ 750k) project includes over 1.440 solar panels and produces 475 kWp power. The system covers 15,000 m² of built surface and will generate 1.027 MWh of clean energy each year, equivalent to that used by more than 700 households in Pernambuco State. The new system will avoid the emission of 452 tonnes of carbon dioxide each year.

 

The project started operation in April 2019. The solar plant is part of a long-term system rental agreement between Faro Energy and a local retail group. The main purpose of the project is to provide energy to more than 14 stores in the state of Pernambuco.

 

The upfront investment required to build solar power plant was made entirely by Faro Energy as a part of the agreement with the client, which benefits from all of energy produced by the system and injected into to the local distribution grid. The client can use the energy credits at any of their facilities within the covered area.

 

The long-term rental agreement includes all the operation and maintenance for the plant to be provided by Faro Energy and its partners. "The potential for solar power in the Northeast region of Brazil is huge”, said Pedro Mateus, Faro Energy's Head of Brazil and CFO. “Solar irradiation is naturally very high in the region, creating attractive investment opportunities.” added Mateus.

 

 

 

About Faro Energy:

The Faro Energy Group, headquartered in London, invests in and develops renewable energy projects in Latin America. As of 2019, it is primarily focused on the rapidly growing distributed solar generation market in Brazil. Faro invests 100% of necessary capital to build, operate and maintain all solar power plants, establishing a long-term rental agreement with its client. Faro is very proud to be a B Corp.

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Faro Energy inaugura novo projeto de energia solar em Pernambuco

 

Foram investidos R$2,5 milhões na planta, que terá capacidade para gerar 1.027 MWh/ano, equivalente ao consumo de aproximadamente 700 habitações pernambucanas

 

O grupo inglês Faro Energy, que realiza investimentos em projetos de energia solar distribuída na América Latina, inaugurou recentemente a sua mais nova planta no Brasil. Localizada no município de Afogados de Ingazeira, no sertão de Pernambuco, é a terceira unidade administrada pela Faro Energy, inaugurada poucas semanas após o lançamento de outra usina construída pela empresa em Pirapora, no interior de Minas Gerais.

 

Com investimentos na ordem de R$ 2,5 milhões, a usina solar possui uma área de 15 mil m², com 1.440 módulos fotovoltaicos instalados. Isso resulta em uma potência total do sistema de 475 kilowatt-pico (KWp). A capacidade de geração é de 1.027 MWh/ano, equivalente ao consumo de aproximadamente 700 habitações em Pernambuco, evitando a emissão de aproximadamente 452 toneladas de CO2/ano.

 

O projeto teve início operacional em abril de 2019, e faz parte de um contrato de locação de equipamentos de longo prazo capitaneado pela Faro Energy junto a um grande grupo do setor varejista. O projeto atenderá cerca de 14 lojas situadas no estado de Pernambuco.

 

Com o investimento inicial realizado pela própria Faro Energy junto ao cliente do projeto, toda a energia gerada pela usina é enviada para a rede da distribuidora do local onde a planta foi alocada. Com isso, o cliente pode receber os créditos de energia em qualquer unidade consumidora dentro da área de concessão.

 

O contrato da planta prevê uma locação a longo prazo, com toda a operação e manutenção do projeto realizada pela própria Faro Energy e por seus parceiros. "O potencial de desenvolvimento de projetos de energia solar distribuída nos municípios do Nordeste brasileiro é gigantesco", afirma Pedro Mateus, diretor financeiro e responsável pela operação da Faro Energy no Brasil. “Tanto do ponto de vista de capacidade natural de produção solar, como também das oportunidades de investimentos na região”, complementa o executivo.

 

Sobre a Faro Energy:

A Faro Energy é uma empresa de investimento em projetos de geração de energia solar distribuída. Com sede em Londres e escritório em São Paulo, a empresa teve início no País em fevereiro de 2016, possuindo um portfólio em rápido crescimento. A companhia investe 100% do capital necessário para implantar, gerir e manter a planta, com um modelo de negócios que prevê um acordo de longo prazo junto ao contratante a partir de um contrato de locação da usina. A Faro tem orgulho em ser uma empresa com certificação B Corp, como companhia que segue altos padrões de transparência, responsabilidade e desempenho.

 

Informações à imprensa
NB Press Comunicação
Igor Reis/Priscila Gomes/Tariana Machado
imprensa@faroenergy.com
(11) 3254-6464

 

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[PRESS RELEASE] Faro Energy launches new solar plant in Minas Gerais, Brazil, investing BRL 12 million

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Faro Energy launches new solar plant in Minas Gerais, Brazil, investing BRL 12 million

 

The Solar power plant started operating at the end of March and will generate 5,500 MWh per year, equivalent to the electricity required for 3,710 houses

 

Faro Energy, a London headquartered B Corporation which invests in solar energy projects across Latin America, has launched its new solar power plant in Pirapora, Minas Gerais, southeast of Brazil. The new project is part of the company's plans to expand its operations throughout Brazil in 2019. Three more plants are expected to be launched within the next six months.

 

The R$ 12 million (US$ 3,5 million) project includes over 7,700 solar panels and produces 2.5 MWp power. The system covers 100,000 m2 of built surface, the equivalent to approximately 25 soccer fields. The plant will generate 5,500 MWh of clean energy each year, equivalent to that used by more than 3,700 households in the Minas Gerais State. The new system will avoid the emission of 2,500 tonnes of carbon dioxide each year.

 

This project took eight months to be completed and connected to the local energy distribution grid, coming into operation in late March 2019. The solar plant is part of a long-term system rental agreement between Faro Energy and a Brazilian retail group. The main purpose of the project is to provide energy to more than 300 stores in the state of Minas Gerais.

 

The upfront investment required to build solar power plant was made entirely by Faro Energy as a part of the agreement with the client, which benefits from all of energy produced by the system and injected into to the local distribution grid. The client can use the energy credits at any of their facilities within the covered area.

 

The Pirapora plant contract includes a long-term rent, with the whole operation and maintenance provided by Faro Energy and its partners.

 

“Clean and sustainable renewable energy, such as solar power, is not only beneficial from an environmental perspective – it provides a significant financial benefits for the client both in direct cost savings and in predictability of costs”, said Pedro Mateus, Faro Energy's Head of Brazil and CFO. 

 

 

Key data points:

 

·         7,680 solar panels covering an area of 100,000 m2;

·         Generates 5,500 MWh of clean energy each year;

·         The plant took eight months to be built and started its operations in March 2019.

 

 

About Faro Energy

The Faro Energy Group, headquartered in London, invests in and develops renewable energy projects in Latin America. As of 2019, it is primarily focused on the rapidly growing distributed solar generation market in Brazil. Faro invests 100% of necessary capital to build, operate and maintain all solar power plants, establishing a long-term rental agreement with its client. Faro is very proud to be a B Corp.

 

 

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Faro Energy launches new solar plant in Minas Gerais, Brazil, investing BRL 12 million

 

The Solar power plant started operating at the end of March and will generate 5,500 MWh per year, equivalent to the electricity required for 3,710 houses

 

Faro Energy, a London headquartered B Corporation which invests in solar energy projects across Latin America, has launched its new solar power plant in Pirapora, Minas Gerais, southeast of Brazil. The new project is part of the company's plans to expand its operations throughout Brazil in 2019. Three more plants are expected to be launched within the next six months.

 

The R$ 12 million (US$ 3,5 million) project includes over 7,700 solar panels and produces 2.5 MWp power. The system covers 100,000 m2 of built surface, the equivalent to approximately 25 soccer fields. The plant will generate 5,500 MWh of clean energy each year, equivalent to that used by more than 3,700 households in the Minas Gerais State. The new system will avoid the emission of 2,500 tonnes of carbon dioxide each year.

 

This project took eight months to be completed and connected to the local energy distribution grid, coming into operation in late March 2019. The solar plant is part of a long-term system rental agreement between Faro Energy and a Brazilian retail group. The main purpose of the project is to provide energy to more than 300 stores in the state of Minas Gerais.

 

The upfront investment required to build solar power plant was made entirely by Faro Energy as a part of the agreement with the client, which benefits from all of energy produced by the system and injected into to the local distribution grid. The client can use the energy credits at any of their facilities within the covered area.

 

The Pirapora plant contract includes a long-term rent, with the whole operation and maintenance provided by Faro Energy and its partners.

 

“Clean and sustainable renewable energy, such as solar power, is not only beneficial from an environmental perspective – it provides a significant financial benefits for the client both in direct cost savings and in predictability of costs”, said Pedro Mateus, Faro Energy's Head of Brazil and CFO. 

 

 

Key data points:

 

·         7,680 solar panels covering an area of 100,000 m2;

·         Generates 5,500 MWh of clean energy each year;

·         The plant took eight months to be built and started its operations in March 2019.

 

 

About Faro Energy

The Faro Energy Group, headquartered in London, invests in and develops renewable energy projects in Latin America. As of 2019, it is primarily focused on the rapidly growing distributed solar generation market in Brazil. Faro invests 100% of necessary capital to build, operate and maintain all solar power plants, establishing a long-term rental agreement with its client by. Faro is very proud to be a B Corp company 

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Com investimentos de R$ 12 milhões, Faro Energy inaugura usina de energia solar em Minas Gerais

 

Com início da operação realizado no fim de março, planta terá capacidade de geração de energia de 5.500 MWh/ano, equivalente ao consumo de 3.710 habitações

 

A Faro Energy, empresa B Corp sediada em Londres que realiza investimentos em projetos de energia solar distribuída na América Latina, inaugurou no fim de março a sua mais nova planta no país no município de Pirapora, no norte de Minas Gerais. A nova unidade faz parte dos planos da companhia em expandir suas operações de forma expressiva no Brasil em 2019, já prevista a inauguração de mais 3 usinas nos próximos 6 meses.

 

Com investimentos na ordem de R$ 12 milhões, a usina solar possui uma área de 100 mil m² (equivalente a 25 campos de futebol), com cerca de 7.700 módulos fotovoltaicos instalados. Isso resulta em uma potência total do sistema de 2,5 megawatt-pico (MWp). A capacidade de geração limpa é de 5.500 MWh/ano, equivalente ao consumo de 3.700 habitações em Minas Gerais, evitando a emissão de aproximadamente 2.500 toneladas de CO2/ano.

 

O projeto, que levou 8 meses para ser conectado à rede da distribuidora local, e teve início operacional no fim de março de 2019, faz parte de um contrato de locação de equipamentos de longo prazo capitaneado pela Faro Energy junto a um grande grupo do setor varejista. O projeto terá por objetivo atender cerca de 300 lojas situadas no Estado de Minas Gerais.

 

Com o investimento inicial realizado pela própria Faro Energy junto ao cliente do projeto, toda a energia gerada pela usina é enviada para a rede da distribuidora do local onde a planta foi alocada. Com isso, o cliente da unidade pode receber os créditos de energia em qualquer unidade consumidora dentro da área de concessão da distribuidora.

 

O contrato da planta em Pirapora prevê uma locação a longo prazo, com toda a operação e manutenção do projeto realizada pela própria Faro Energy e por seus parceiros.

 

"Entendemos que os benefícios da utilização de uma energia limpa, renovável e sustentável, como a solar, é extremamente relevante não só em termos ambientais e de previsibilidade de custos, mas também de retornos financeiros para o cliente", afirma Pedro Mateus, diretor financeiro e responsável pela operação da Faro Energy no Brasil.

 

Principais destaques:

 

·         7,680 painéis solares cobrindo uma área de 100,000 m²;

·         Geração de 5,500 MWh de energia limpa a cada ano;

·         A planta levou oito meses para ser construída e iniciou operações em março de 2019.

 

 

Sobre a Faro Energy:

A Faro Energy, com sede em Londres, é uma empresa de investimento em projetos de geração de energia solar distribuída na América Latina. A companhia investe 100% do capital necessário para implantar, gerir e manter a planta, com um modelo de negócios que prevê um acordo de longo prazo, junto ao contratante, para locação da usina. A Faro tem muito orgulho em fazer parte da comunidade B Corp.

 

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[PRESS RELEASE] Faro Energy SAS (Faro Energy Ltd’s Colombian business) Acquired via MBO, and Rebranded to Harvest

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Faro Energy SAS (Faro Energy Ltd’s Colombian business) Acquired via MBO, and Rebranded to Harvest

 

On January 23, 2019, the management team of Faro Energy SAS (“Faro Colombia” or “the Company”) led by its co-founder and Executive Director Carlos Urueta reached an agreement with Faro Energy Ltd (“FEL”) its parent company to acquire 100% of FEL’s Colombian business. The terms of the transaction were not disclosed. Faro Colombia will now be known as Harvest.

Based in Barranquilla, Faro Colombia  began commercial operations in 2016 as a developer and investor in distributed generation solar energy projects with long-term energy supply agreements. The Company owns operating solar plants for key Colombian corporates like Terpel SA (largest fuel distributor in Colombia) and real estate and retail clients like Medellin’s luxury shopping mall Centro Comercial Premium Plaza. The Company also boasts a strong pipeline in the agribusiness and mining sectors under exclusive development agreements and ready-to-build systems in 2019.

Harvest will continue to be led by Carlos Urueta and Juan Silva (its Executive Director of Operations). “This transaction will allow Harvest to diversify its funding sources at a critical moment in our business, in order to accelerate growth and enter into other key segments of the Colombian renewable energy space beyond self-generation to now include mid-scale generation plants and biomass. We are pleased to provide our investors broader investment alternatives and structures to capitalize on the emerging Colombian renewables energy space”, said Mr. Urueta.

The Faro Energy Group will now be primarily focused on its rapidly growing distributed solar generation business in Brazil, where it is building more than 35 MW, although will remain a funding partner for Harvest. “This transaction will enable Faro Energy to focus on its biggest market and to streamline its operations.” said Sarah Chapman, Faro Energy CEO. “At the same time it gives the Harvest team the independence and flexibility to diversify its investor base and adapt its business model for the Colombian market. We wish the team every success in continuing to lead the transition to renewable energy in Colombia.”

About Harvest

Harvest (formerly Faro Energy SAS) is a developer and investor in renewable energy projects in Colombia. Harvest identifies and structures generation projects to create world-class investment vehicles.  

About Faro Energy

The Faro Energy Group, headquartered in London, invests in and develops renewable energy projects in Latin America. As of 2019, it is primarily focused on the rapidly growing distributed solar generation market in Brazil.

Press contacts:

Faro Energy: Sarah Chapman, CEO, sarah.chapman@faroenergy.com

Harvest: Carlos Urueta, Partner, carlos@harvest.com.co


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Faro Energy SAS (Faro Energy Ltd’s Colombian business) Acquired via MBO, and Rebranded to Harvest

 

On January 23, 2019, the management team of Faro Energy SAS (“Faro Colombia” or “the Company”) led by its co-founder and Executive Director Carlos Urueta reached an agreement with Faro Energy Ltd (“FEL”) its parent company to acquire 100% of FEL’s Colombian business. The terms of the transaction were not disclosed. Faro Colombia will now be known as Harvest.

Based in Barranquilla, Faro Colombia  began commercial operations in 2016 as a developer and investor in distributed generation solar energy projects with long-term energy supply agreements. The Company owns operating solar plants for key Colombian corporates like Terpel SA (largest fuel distributor in Colombia) and real estate and retail clients like Medellin’s luxury shopping mall Centro Comercial Premium Plaza. The Company also boasts a strong pipeline in the agribusiness and mining sectors under exclusive development agreements and ready-to-build systems in 2019.

Harvest will continue to be led by Carlos Urueta and Juan Silva (its Executive Director of Operations). “This transaction will allow Harvest to diversify its funding sources at a critical moment in our business, in order to accelerate growth and entry into other key segments of the Colombian renewable energy space beyond self-generation to now include mid-scale generation plants and biomass. We are pleased to provide our investors broader investment alternatives and structures to capitalize on the emerging Colombian renewables energy space”, said Mr. Urueta.

The Faro Energy Group will now be primarily focused on its rapidly growing distributed solar generation business in Brazil, where it is building more than 35 MW, although will remain a funding partner for Harvest. “This transaction will enable Faro Energy to focus on its biggest market and to streamline its operations.” said Sarah Chapman, Faro Energy CEO. “At the same time it gives the Harvest team the independence and flexibility to diversify its investor base and adapt its business model for the Colombian market. We wish the team every success in continuing to lead the transition to renewable energy in Colombia.”

About Harvest

Harvest (formerly Faro Energy SAS) is a developer and investor in renewable energy projects in Colombia. Harvest identifies and structures generation projects to create world-class investment vehicles.  

About Faro Energy

The Faro Energy Group, headquartered in London, invests in and develops renewable energy projects in Latin America. As of 2019, it is primarily focused on the rapidly growing distributed solar generation market in Brazil.

Press contacts:

Faro Energy: Sarah Chapman, CEO, sarah.chapman@faroenergy.com

Harvest: Carlos Urueta, Partner, carlos@harvest.com.co


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Faro Energy SAS (o braço colombiano da Faro Energy Ltd) adquirido via MBO, e reformulado para Harvest

 

Em 23 de janeiro de 2019, o time gerencial da Faro Energy SAS (“Faro Colombia” ou a “Empresa”), liderada por seu cofundador e Diretor Executivo Carlos Urueta realizou um acordo com a Faro Energy Ltda (“FEL”), sua empresa matriz, para adquirir 100% dos negócios da FEL na Colômbia. Os termos da transação não foram divulgados. A Faro Colômbia agora passa a ser chamada de Harvest.

Baseado em Barranquilla, a Faro Colômbia iniciou suas operações comerciais em 2016 como desenvolvedora e investidora de projetos de longo prazo em energia solar para geração distribuída. A empresa possui sistemas solares em operação para importantes Companhias na Colômbia como a Terpel AS (maior distribuidor de combustível) e clientes do setor imobiliário e varejo como o shopping de luxo Centro Comercial Premimum Plaza de Medellin. A empresa também ostenta um forte pipeline no agronegócio e no setor de mineração com acordos de desenvolvimento para projetos ready-to-build em 2019.

A Harvest continuará a ser liderada por Carlos Urueta e Juan Silva (Diretor Técnico). “Esta transação vai permitir que a Harvest possa diversificar suas fontes de financiamento em um momento crítico para o nosso negócio, com o intuito de acelerar o crescimento e entrar em outros segmentos-chave além do mercado colombiano de autogeração em energias renováveis, incluindo plantas de geração em média escala e biomassa. Nós estamos contentes em oferecer aos nossos investidores outras alternativas e maior estrutura para capitalizar o emergente mercado colombiano de energias renováveis”, disse o Sr. Urueta.

O Faro Energy Group continuará agora focando o seu crescimento no crescente mercado de energia distribuída brasileiro, onde está construindo mais de 35 MW, embora ainda continue sendo um parceiro investidor da Harvest. “Esta transação permite a Faro Energy focar no seu maior mercado aperfeiçoar suas operações” diz Sarah Chapman, Faro Energy CEO. “Ao mesmo tempo isso dá ao time da Harvest a independência e flexibilidade para diversificar sua base de investidores e adaptar seu modelo de negócio para o mercado colombiano. Nós desejamos ao time todo o sucesso na continuidade de liderar a transição do mercado de energias renováveis na Colômbia”.

 

Sobre a Harvest

 A Harvest (antiga Faro Energy SAS) é uma desenvolvedora e investidora em projetos de energia renovável na Colômbia. A Harvest identifica e estrutura projetos de geração que criam investimentos em nível global.

Sobre a Faro Energy

A Faro Energy Group, sediada em Londres, investe e desenvolve projetos de energia renovável na América Latina. A partir de 2019, seu foco primário é o crescimento em projetos de energia distribuída no crescente mercado do Brasil.

 

Principais Contatos:

Faro Energy: Sarah Chapman, CEO, sarah.chapman@faroenergy.com

Harvest: Carlos Urueta, Sócio, carlos@harvest.com.co

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[PRESS RELEASE] Faro Energy delivers new solar plant in Medellin, Premium Plaza Shopping Mall

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Faro Energy delivers new solar plant in Medellin, Premium Plaza Shopping Mall

 

Medellin's elite shopping mall, Centro Comercial Premium Plaza (Premium) has reaffirmed its commitment to the environment by announcing its new solar plant. The plant is part of a long-term bilateral energy purchase agreement between Premium and Faro Energy (Faro) where Faro invests and manages the plant throughout its useful life and Premium buys clean energy.

The plant has more than 1,200 solar panels covering 4,000 square meters of built surface, the equivalent to approximately half a football pitch and generates 611 MWh of clean energy each year. The electricity generated by the plant is equal to the energy consumed by more than 500 Colombian homes and represents 28% of the energy consumed by Premium. The new system will prevent the emission of 455 tons of CO2 each year, the equivalent of removing 1,500 cars from circulation each year.

The project represents the strong growth Colombia is experiencing in the development of non-conventional renewable energy and how the private sector increasingly values on-site renewable energy solutions, prioritising environmental benefits and reducing energy costs.

“Premium Plaza is one of the most recognised shopping malls in Medellin and Colombia. We hope this project inspires visitors to learn more about the solar revolution taking place among Colombian corporates. I am excited to be part of Faro's pioneering efforts in Colombia" – Gabriel Umaña, Business Development Manager, Faro Energy in Colombia.

“Premium Plaza project was built and certified according to the highest design and construction standards defined by NABCEP (leading authority in the field of solar energy in North America) and reinforced with a Colombian RETIE certification. This, in addition to the quality and global recognition of the manufacturers of the equipment used in each component of the plant, is the best guarantee that we will have a highly performing plant for the next thirty years” Juan David Silva, Operations Director for Faro Energy in Colombia.

Key data points:

  • 422 kWp (kWp = kilowatt peak = nominal power of the solar panels);

  • 1,278 solar panels covering an area of 4,000 square meter equivalent to half a football pitch;

  • During the installation 20 new jobs were created;

  • The installation took two months to build; the plant came online in August 2018.

 

About Premium Plaza

Premium is one of the most emblematic shopping malls of Medellin and Colombia. Its environmental program, Pilas con el Planeta, places Premium as the leading shopping mall in the country in terms of energy efficiency, LED illumination, resource management optimisation and carbon footprint measurement. The facility has an area of 115.000 square meters that includes 260 separate tenants, 3 food courts and other sporting attractions. Premium has been in operation since 2007.

 

About Faro Energy

Faro Energy is an investment company and asset manager that develops distributed solar projects to sell energy to large and exceptional energy consumers (both industrial and commercial). Faro invests 100% of the capital needed to develop energy plants and the off-takers agree to purchase the electricity through a long-term power purchase agreement. As owner of the plant, Faro manages and operates the asset during its useful life. Solar energy offers clients energy savings and greater visibility to manage costs. Faro operates from Brazil, Colombia and the UK.

 

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Faro Energy presenta nueva planta solar en Medellín

 

Centro Comercial Premium Plaza P.H. (Premium) en Medellín reafirma su compromiso ambiental confiando su transición hacia energía sostenible a Faro Energy SAS (Faro).

Con la inversión y gestión de Faro, Premium presentó sistema de energía solar conformado por más de 1.200 paneles solares fotovoltaicos instalados en una superficie de 4.000 metros cuadrados, el equivalente a media cancha de fútbol que generará 611 MWh de energía limpia cada año. La energía de esta planta correspondiente al consumo mensual de más de 500 hogares colombianos y representa el 28% de la demanda mensual de energía de este importante centro comercial. El nuevo sistema también evitará la liberación de 455 toneladas de CO2 a la atmósfera cada año, el equivalente a sacar de circulación 1.500 vehículos.

El proyecto se ejecutó con base en un acuerdo bilateral de compra de energía suscrito entre Premium y Faro. Faro, gestor y titular de los activos, estará a cargo de la operación y mantenimiento de la planta durante su vida útil. El proyecto refleja el crecimiento de la implementación de energía renovable no convencional en el país y la manera como el sector privado incorpora este tipo de energía por sus beneficios económicos y ambientales.

“Premium Plaza es uno de los centros comerciales más reconocidos de Medellín y del país. Esperamos que este proyecto inspire a los visitantes a conocer y entender mejor la revolución solar que se está dando en Colombia. Estoy muy contento de hacer parte de esta importante iniciativa que promueve Faro en Colombia” dijo Gabriel Umaña, Gerente Comercial de Faro Energy en Colombia.

“El proyecto de Premium Plaza cumple con los más altos estándares de diseño y construcción definidos por NABCEP (máxima autoridad norteamericana en energía renovable) y reforzados por la certificación colombiana RETIE. Sumado a la alta calidad y reconocimiento de los fabricantes de los componentes utilizados en la construcción aseguraremos un desempeño sobresaliente durante los próximos 30 años” dijo el Director de Operaciones de Faro Energy, Juan David Silva.

 

Datos de interés:

  • 422 kWp (kWp = kilovatio pico = potencia nominal de los paneles solares);

  • 1.278 paneles solares instalados y área construida de 4.000 metros cuadrados equivalente a media cancha de fútbol;

  • Durante la fase de instalación se crearon 20 empleos directos;

  • La instalación del sistema de energía solar tardó 2 meses y finalizó en agosto de 2018.

 

Acerca de Premium Plaza

Con sus 115,000 metros cuadrados, que incluye más de 260 locales, 3 plazoletas de comida, entre otros, Premium Plaza es uno de los centros comerciales más emblemáticos de Medellín y del país. Premium cuenta con un programa de responsabilidad social ambiental llamado Pilas con el Planeta que ha hecho al centro comercial pionero en temas de eficiencia energética, iluminación LED, optimización de recursos y medición de huella de carbono. Premium Plaza opera desde el 2007.

 

Acerca de Faro Energy

Faro Energy es una empresa de inversión y gestor de activos concentrada en proyectos de energía renovable tanto de generación (inyección directa a la red) como de autogeneración (generación en sitio, 'generación distribuida'). Los proyectos de Faro comprenden un rango de potencias instaladas entre 500 kWp y 15 MWp (potencia pico). FARO invierte 100% del capital requerido en sus proyectos para suplir/vender energía contratada a largo plazo. FARO gestiona múltiples entidades proyecto, administra y opera portafolio de activos durante su vida útil. La trayectoria de FARO inicia a finales de la década de los 2000s con el financiamiento de créditos de carbón en China y en los mercados de capitales de Londres y Nueva York. FARO opera desde Brasil, Colombia e Inglaterra. 

 

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Faro Energy delivers new solar plant in Medellin, Premium Plaza Shopping Mall

 

Medellin's elite shopping mall, Centro Comercial Premium Plaza (Premium) has reaffirmed its commitment to the environment by announcing its new solar plant. The plant is part of a long-term bilateral energy purchase agreement between Premium and Faro Energy (Faro) where Faro invests and manages the plant throughout its useful life and Premium buys clean energy.

The plant has more than 1,200 solar panels covering 4,000 square meters of built surface, the equivalent to approximately half a football pitch and generates 611 MWh of clean energy each year. The electricity generated by the plant is equal to the energy consumed by more than 500 Colombian homes and represents 28% of the energy consumed by Premium. The new system will prevent the emission of 455 tons of CO2 each year, the equivalent of removing 1,500 cars from circulation each year.

The project represents the strong growth Colombia is experiencing in the development of non-conventional renewable energy and how the private sector increasingly values on-site renewable energy solutions, prioritising environmental benefits and reducing energy costs.

“Premium Plaza is one of the most recognised shopping malls in Medellin and Colombia. We hope this project inspires visitors to learn more about the solar revolution taking place among Colombian corporates. I am excited to be part of Faro's pioneering efforts in Colombia" – Gabriel Umaña, Business Development Manager, Faro Energy in Colombia.

“Premium Plaza project was built and certified according to the highest design and construction standards defined by NABCEP (leading authority in the field of solar energy in North America) and reinforced with a Colombian RETIE certification. This, in addition to the quality and global recognition of the manufacturers of the equipment used in each component of the plant, is the best guarantee that we will have a highly performing plant for the next thirty years” Juan David Silva, Operations Director for Faro Energy in Colombia.

Key data points:

  • 422 kWp (kWp = kilowatt peak = nominal power of the solar panels);

  • 1,278 solar panels covering an area of 4,000 square meter equivalent to half a football pitch;

  • During the installation 20 new jobs were created;

  • The installation took two months to build; the plant came online in August 2018.

 

About Premium Plaza

Premium is one of the most emblematic shopping malls of Medellin and Colombia. Its environmental program, Pilas con el Planeta, places Premium as the leading shopping mall in the country in terms of energy efficiency, LED illumination, resource management optimisation and carbon footprint measurement. The facility has an area of 115.000 square meters that includes 260 separate tenants, 3 food courts and other sporting attractions. Premium has been in operation since 2007.

 

About Faro Energy

Faro Energy is an investment company and asset manager that develops distributed solar projects to sell energy to large and exceptional energy consumers (both industrial and commercial). Faro invests 100% of the capital needed to develop energy plants and the off-takers agree to purchase the electricity through a long-term power purchase agreement. As owner of the plant, Faro manages and operates the asset during its useful life. Solar energy offers clients energy savings and greater visibility to manage costs. Faro operates from Brazil, Colombia and the UK.

 

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[PRESS RELEASE] Faro Issues Brazil's First Certified Green Bond for Solar

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Faro Energy Issues Brazil's First Certified Green Bond for Solar

Distributed Solar Co Adopts Best Practice in Green Finance

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Faro Energy Issues Brazil's First Certified Green Bond for Solar

Distributed Solar Co Adopts Best Practice in Green Finance

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Faro Energy emite primeiro título verde brasileiro para energia solar

Distributed Solar Co adota melhores práticas em finanças verdes

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PRESS RELEASE: LONDON / SÃO PAULO, 10th July 2018

Faro Energy has issued the first Certified Green Bond for solar energy in Brazil.

The bond will be used to finance distributed solar power projects across Brazil. The Brazilian solar market is growing rapidly and green financing solutions are critical to enable the market to scale.

While Climate Bonds Certified Green Bonds have previously been issued for wind projects in Brazil and for solar bond financing in Australia, India, Mauritius, Morocco, Nigeria, Singapore, the US and Europe, this is the first time that a Certified Green Bond is being used for solar in Brazil.

This bond has been verified by Bureau Veritas, a leading international verification agency, and Certified according to the Climate Bond Standard & Certification Scheme

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PRESS RELEASE: LONDON / SÃO PAULO, 10th July 2018

Faro Energy has issued the first Certified Green Bond for solar energy in Brazil.

The bond will be used to finance distributed solar power projects across Brazil. The Brazilian solar market is growing rapidly and green financing solutions are critical to enable the market to scale.

While Climate Bonds Certified Green Bonds have previously been issued for wind projects in Brazil and for solar bond financing in Australia, India, Mauritius, Morocco, Nigeria, Singapore, the US and Europe, this is the first time that a Certified Green Bond is being used for solar in Brazil.

This bond has been verified by Bureau Veritas, a leading international verification agency, and Certified according to the Climate Bond Standard & Certification Scheme

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COMUNICADO DE IMPRENSA: LONDRES / SÃO PAULO, 10 de Julho de 2018

A Faro Energy acaba de emitir o primeiro título verde certificado para energia solar no Brasil. O título será usado para financiar projetos de energia solar distribuída em todo o país.

Este é mais um importante passo para o mercado brasileiro de energia solar. Soluções de financiamento verde são essenciais para permitir que o setor cresça em escala e seja dimensionado.

O título foi verificado pelo Bureau Veritas, agência internacional líder em verificação; e certificado de acordo com o Climate Bond Standard & Certification Scheme

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Sarah Chapman, CEO of Faro Energy

“We believe that innovative green finance mechanisms like Green Bonds will be transformational for the distributed solar sector in Brazil over the coming years. We are very proud to achieve this significant milestone for both Faro Energy and the industry more broadly.”

Sean Kidney, CEO of Climate Bonds Initiative

“This issuance is a new foundation for best practice as Brazil's Green Bond market develops. With such a large demand for clean energy, there is enormous potential for offshore investment in solar as part of the low carbon energy mix. Congratulations to Faro Energy for taking the lead in this sector!”

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Sarah Chapman, CEO of Faro Energy

“We believe that innovative green finance mechanisms like Green Bonds will be transformational for the distributed solar sector in Brazil over the coming years. We are very proud to achieve this significant milestone for both Faro Energy and the industry more broadly.”

Sean Kidney, CEO of Climate Bonds Initiative

“This issuance is a new foundation for best practice as Brazil's Green Bond market develops. With such a large demand for clean energy, there is enormous potential for offshore investment in solar as part of the low carbon energy mix. Congratulations to Faro Energy for taking the lead in this sector!”

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Sarah Chapman, CEO, Faro Energy

“Acreditamos que mecanismos inovadores de financiamento verde, como os títulos verdes, serão transformadores para o setor solar de geração distribuída no Brasil nos próximos anos. Estamos muito orgulhosos de alcançar este marco significativo para a Faro Energy e para a indústria de forma mais ampla.”

Sean Kidney, CEO, Climate Bonds Initiative

“Esta emissão é uma nova base para as melhores práticas, conforme o mercado de títulos verdes do Brasil se desenvolve. Com uma demanda tão grande de energia limpa, há um enorme potencial para investimentos offshore em energia solar como parte do mix de energia de baixo carbono. Parabéns à Faro Energy por assumir a liderança neste setor!”

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About Faro Energy

Faro Energy identifies, develops and finances distributed solar energy projects in emerging markets. It is currently focused on solar for commercial and industrial customers in Brazil and Colombia. Faro has offices in Sao Paulo, Barranquilla and London.

Faro Energy is proud to be a Certified B Corporation

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About Faro Energy

Faro Energy identifies, develops and finances distributed solar energy projects in emerging markets. It is currently focused on solar for commercial and industrial customers in Brazil and Colombia. Faro has offices in Sao Paulo, Barranquilla and London.

Faro Energy is proud to be a Certified B Corporation

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Sobre a Faro Energy

A Faro Energy identifica, desenvolve e financia projetos de energia solar distribuídos em mercados emergentes. Atualmente, concentra-se em energia solar para clientes comerciais e industriais no Brasil e na Colômbia. Faro tem escritórios em São Paulo, Barranquilla e Londres.

A Faro Energy orgulha-se de ser uma Certified B Corporation

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About Climate Bonds

The Climate Bonds Initiative is an investor-focused not-for-profit, promoting large-scale investment in the low-carbon economy. It undertakes advocacy and outreach to inform and stimulate the market, provides policy models and government advice, market data and analysis and administers the Standards & Certification Scheme.

For more information, please visit www.climatebonds.net

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About Climate Bonds

The Climate Bonds Initiative is an investor-focused not-for-profit, promoting large-scale investment in the low-carbon economy. It undertakes advocacy and outreach to inform and stimulate the market, provides policy models and government advice, market data and analysis and administers the Standards & Certification Scheme.

For more information, please visit www.climatebonds.net

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Sobre a Climate Bonds Initiative

A Climate Bonds Initiative é uma organização sem fins lucrativos que promove investimentos em larga escala para a economia de baixo carbono. Para mais informações, visite www.climatebonds.net

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About Climate Bonds Standards

Climate Bonds Standard 2.1 is an overarching science based multi-sector standard that allows investors and intermediaries to easily assess the climate credentials and environmental integrity of bonds claiming to be green and funding the low carbon future.  

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About Climate Bonds Standards

Climate Bonds Standard 2.1 is an overarching science based multi-sector standard that allows investors and intermediaries to easily assess the climate credentials and environmental integrity of bonds claiming to be green and funding the low carbon future.  

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Sobre a Climate Bonds Standards

O Climate Bonds Standard 2.1 é um padrão multissetorial abrangente baseado em ciência que permite que investidores e intermediários avaliem com facilidade as credenciais climáticas e a integridade ambiental de títulos que alegam ser verdes e financiar o futuro de baixo carbono.

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For more information, please contact:

Pedro Araujo Mateus, CFO, Faro Energy (pedro.mateus@faroenergy.com) +55 11 99923 4817

Chris Hartle, Director, Financial Strategy, Faro Energy (chris.hartle@faroenergy.com) +55 11 5093 6208

Andrew Whiley, Head of Communications, Climate Bonds (andrew.whiley@climatebonds.net) +44 (0) 7506 270 943

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For more information, please contact:

Pedro Araujo Mateus, CFO, Faro Energy (pedro.mateus@faroenergy.com) +55 11 99923 4817

Chris Hartle, Director, Financial Strategy, Faro Energy (chris.hartle@faroenergy.com) +55 11 5093 6208

Andrew Whiley, Head of Communications, Climate Bonds (andrew.whiley@climatebonds.net) +44 (0) 7506 270 943

..

Para mais informações:

Pedro Araujo Mateus, CFO, Faro Energy (pedro.mateus@faroenergy.com) +55 11 99923 4817

Chris Hartle, Director, Financial Strategy, Faro Energy (chris.hartle@faroenergy.com) +55 11 5093 6208

Andrew Whiley, Head of Communications, Climate Bonds (andrew.whiley@climatebonds.net) +44 (0) 7506 270 943

Mariana Caminha, Brazil Communications, Climate Bonds (mariana.caminha@climatebonds.net) +55 (61) 98135 1800

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This press release can be found on the Climate Bonds Initiative website here

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This press release can be found on the Climate Bonds Initiative website here.

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Este comunicado de imprensa pode ser encontrado no site Climate Bonds Initiative aqui.

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[Opinion] The Role of Renewables in Colombian Energy Security

The Role of Renewables in Colombian Energy Security

 

By: Carlos Urueta and Farah Mohammadzadeh Valencia

 

Wind, Solar and other non-hydro renewables are essential to transform energy security and corporate competitiveness in Colombia.

 

Hydropower accounts for 70% of Colombia’s current energy matrix, and is Colombia’s cheapest source of energy. By definition, hydropower is susceptible to water levels and thus extremely vulnerable to droughts. Furthermore, while it is considered “clean”, it is not always sustainable due to the devastating impact it can have on land use and natural habitats.  It is in this context that Colombia now evaluates its energy security. Encouraging broad development of wind, solar and other non-hydro renewables (NCRE) could prove a far more compelling solution to address Colombia's energy supply concerns.

 

El Niño exposes chronic inefficiencies in the energy market design. As a hydro-heavy country, Colombia depends wholly on the availability of backup thermal generators to supply energy during dry periods. Since thermal generation is costly and commodity prices volatile, consumers pay a surcharge called cargo por confiabilidad as part of their electricity bills to finance backup thermal plants that promise to generate electricity on demand. This subsidy scheme seemed to work for years when climatic conditions did not reach the severity of the current Niño. But the recent need to increase energy prices to provide further support to these thermal generators has left consumers distraught. With generators like Termocandelaria reporting financial losses and underinvestment, Colombians are frustrated and demand greater government scrutiny into how the cargo por confiabilidad is managed questioning also why the original surcharge was not enough. What is clear is that Colombia’s ongoing climate crisis has tested the current system to its limit.

 

Renewables are a cheaper and more reliable alternative to thermal generation. Colombia boasts exceptional non-conventional energy resources like solar, wind and biomass. In fact, solar is among Colombia’s most abundant resources given its proximity to the equatorial zone. By making better use of these renewable resources, the government could make Colombian energy supply more reliable and cost effective.

Colombia has a daily average solar radiation of 4.5 to 5 kWh/m2 and extraordinary levels near the Guajira Peninsula that surpass 6 kWh/m2. Likewise, the Guajira region is endowed with one of the highest wind potentials in South America. These resources could be better utilized in light of the decreasing costs that renewables offer. Global solar production costs for instance have fallen 95% in the past decade, meaning solar can now deliver a savings to most Colombian consumers; commercial, industrial and residential alike. Although not as dramatically, wind energy costs have also become cheaper, making wind a viable alternative to fossil fuels in the region like in Peru. In fact, it is not uncommon today to see wind energy projects around the world deliver electricity as low as USD 0.04/kWh.

 

Law 1715 of 2014 first step in the right direction. In May 2014, the Colombian government took a significant step and passed Law 1715 to establish the legal framework and instruments to actively promote and integrate NCRE into the national energy system. Law 1715 outlines the incentives that make non-hydro renewables economically feasible. These incentives include (1) 50% income tax exemption for up to 50% of the initial investment, (2) accelerated depreciation of assets, (3) Value-added-tax exemption on goods and services related to the investment and (4) import duty exemption on raw materials and components for the development of non-hydro renewable projects. The new law also envisages credits for energy injected to the grid or net-metering though the mechanics of this commercial incentive have not yet been fully outlined.

The Colombian government sees Law 1715 as an opportunity to improve its overall economic competitiveness. Investments in renewable energy will allow Colombia to develop skills and jobs in a globally budding market. As the study on “Integration of non-traditional renewable energy in Colombia” illustrates, Colombia has a unique opportunity to play an important role in the NCRE sector and much to benefit.

 

The regulation published in conjunction with Law 1715 [1] is a good first step. The law addresses key tax provisions and size of self-generation or distributed energy initiatives. And while these are important measures, future laws could go further to accelerate the transformation of Colombia's energy sector.

For example, Law 1715 does not incorporate the feed-in-tariff [2] and competitive net-metering models that have enabled regional neighbors like Chile and Peru transform their energy supply. If Colombia is to reach a meaningful transformation in energy generation, the government could consider sponsoring utility scale auctions. Thanks in large part to this model, in Chile at year-end 2015, NCRE accounted for 11.4% of its installed capacity compared to 2.4% in 2005. In the case of Peru, this number reached 6.2% at year-end 2015 versus 4.8% in 2009. In Colombia, NCRE represents less than 0.1% of total energy generation. The pace and nature of the growth in these neighboring countries is due to concerted efforts to implement explicit auction timelines for technology-specific (e.g. wind, solar, biomass, small hydro) supply. The result for Chile and Peru has been cleaner, environmentally friendly, reliable and less expensive energy.

 

Near-term perspective still encouraging. With the new regulations, combined with Colombia’s strong record of sound economic policies, nearing accession to the OECD and safe stewardship of investment friendly corporate laws, Colombia is attracting the attention of a growing number of renewable energy developers and investors. Their presence in Colombia should help to maximize the potential of the current regulatory environment and pave the way to further deregulation and modernization of the energy system. Further liberalization of a controlled market is not new to Colombia. It has happened in telecom and hydrocarbons, and is now much needed in the power sector. With climatic changes exposing the weaknesses of stop-gap measures like the cargo por confiabilidad, Colombia should finally follow a path to a diverse, clean, modern energy supply matrix.

 

 

[1] Ministerio de Minas y Energía Decree 2469, Comisión Reguladora de Energía y Gas 0-16 and Unidad de Planeación Minero Energética Resolution No. 28

[2] Government guaranteed rates for large-scale NCRE development