Tecnometal, NGP to Sign Power Contract for Brazil Solar Project

Tecnometal Equipamentos Ltda. and New Generation Power expect to complete a contract this week to sell energy from solar project to the municipality of Itajobi.

The electricity will be sold for less than the rates the local government pays for public lighting, which may cost as much as 400 reais ($193) a megawatt-hour, Carlos Evangelista, business manager for Tecnometal, said today in a telephone interview. He expects to sign the 20-year contract Nov. 22 with the city in Sao Paulo state.

The 1-megawatt project, which will cost 7 million reais, is scheduled to be complete in the second half of next year and may be expanded to 3 megawatts in 2014, he said.