Vale intends to invest 500 million US dollars to build photovoltaic power plants

The global iron ore giant Vale recently announced that it will build a photovoltaic power plant in Jaíba, Minas Gerais, Brazil. The power plant will consist of 17 branch plants with a total installed capacity of 766 Megawatt peak (MWp), with a total investment of approximately US$500 million, and the Solar Systems For Sale project is scheduled to be put into operation in the fourth quarter of 2022.

It is reported that the project is an important measure for Vale to achieve carbon neutrality in the mining industry and will provide renewable and competitive energy for the operations of Vale and its affiliates. After the project is put into production, it will generate about 193 megawatts (MWa) of electricity for Vale’s operations every year, accounting for 13% of Vale’s forecasted electricity demand in 2025.

It is worth mentioning that Vale’s goal is to achieve 100% energy self-sufficiency in Brazil by 2025, and all electricity will come from renewable energy sources, and by 2030, 100% of the world’s electricity will come from renewable energy sources.