After approximately a year and a half of collaboration between Gerdau and the asset manager Newave Capital, and about to finalize the operation of its solar plant in Arinos, Minas Gerais, the joint venture Newave Energia will begin construction of the Barro Alto plant in Goiás, a large-scale and competitive project.
With an installed capacity of 452 megawatts-peak (MWp), the construction will require a total investment of R$1.3 billion, financed partly with the company’s own resources and partly with support from SUDECO, via Banco do Brasil. The plant is expected to begin full operations in 2026.
Edgard Corrochano, CEO of Newave Energia and founder of Newave Capital, and Elder Rapachi, executive director of Gerdau Next, emphasize that the energy generated by the Barro Alto-GO plant will be sufficient to supply approximately 111 MWm, which could supply the consumption of a city with approximately 365 thousand inhabitants.
“We acquired 731,000 solar panels for this project, which will occupy approximately 800 hectares. The construction should generate more than 1,500 direct jobs,” says Corrochano. He emphasizes that all financing is 100% domestic, with more than R$900 million raised in a Private Equity Fund (FIP) with the participation of more than 15,000 investors.
According to the partnership plan, the plant will supply part of the energy generated to Gerdau’s production units in Brazil, in line with its decarbonization strategy.
“This is a significant step in Gerdau’s decarbonization strategy and in increasing the competitiveness of its operations in Brazil. Gerdau already has one of the lowest global averages of greenhouse gas emissions, 50% lower than the average of the global steel industry,” comments Elder Rapachi.
In addition, the plant will sell part of its energy on the free market, where consumers can choose their suppliers and sign contracts based on specific sources, terms and prices.
The new photovoltaic plant, the largest in Goiás, is expected to increase the state’s solar energy generation capacity by 22%, making photovoltaic energy the second main source of energy in Goiás.