China Development Integration Ltd (CDIL) and China Machinery Engineering Corp (CMEC) have agreed to finance and build a new 1,100 MW solar energy complex in Brazil.
Hong Kong-based CDIL, which is chaired by tycoon Andy Kui Shing Lai, announced that the project will require a total investment of about US$ 1 billion in engineering, procurement and construction.
According to the Brazilian energy website O Petroleo, financing will be provided mainly by mainland China.
The brainchild of Brazilian-German serial entrepreneur Eike Batista, the project will start with the construction of a 300 MW photovoltaic solar park followed by a second 800 MW park at a later stage.
CDIL’s local subsidiary, China-Brazil Integration Group Ltd, will develop the project in Porto do Açu, in Rio de Janeiro, and at other locations across the country.
State engineering contractor CMEC will be responsible for engineering design, procurement of local materials and services, construction and recruitment.
CMEC will also engage with a player from the local sector to handle the operation.
“This is the first in a series of projects that we are going to carry out together with CDIL and Mr Batista,” said Liu Cansheng, senior engineer and general counsel at CMEC.
CDIL has been based in Hong Kong since 1987, engaging in large scale infrastructure, transportation, mining, trading, agriculture, communication, pharmaceutical, real estate, financial modelling and finance operations in China and around the world.
The company primarily focuses on large-scale projects alongside PRC state-owned enterprises in industries which correspond to the development of China and its collaboration around the Pacific Rim.
