German solar company to invest US$2.54 million in Brazil

The initial investment will be used to import photovoltaic panels for an installation set to be located on the rooftop of a factory located in the municipality of São José de Mipibu. The project size was not revealed and the company was not available to comment.

However, Horst Ebitsch, CEO of Ebitsch Energietechnik, is said to estimate an annual turnover of 15 million Brazilian reales (US$ 7,61 million), according to a statement released by the state government.

"We recognize the potential solar energy has in this state, and we would like to bring our experience and modern technology to help develop the sector," said Ebitsch. The German solar company has installed a total of 2,500 solar projects throughout the world.

Rogério Marinho, State Secretary of Economic Development (SEDEC), added, "We firmly believe that solar energy sector will play an important role in the state’s development. Our state government in the future will support technologies based in renewable energies."

"The state government will build a technological park which will be active in the renewable energy industry, and will work in collaboration with the Universidade Federal, Petrobras and research institutions to strengthen even more the sector," he continued.

Earlier this year, two Italian investor groups, Real Watt Solar and Astra Energia, also visited Brazil’s Rio Grande do Norte. Astra Energia is planning to install at least 50 MW worth of photovoltaic parks, while, Real Watt Solar aims to invest US$376.5 million in the establishment of two photovoltaic manufacturing facilities.