Vale (VALE3) has started generating renewable energy at Sol do Cerrado, according to a statement to the market.
According to the document, the project is one of the largest solar energy parks in Latin America, with installed capacity of 766 Megawatts-peak, equivalent to the consumption of a city of 800,000 inhabitants.
It also informs that when it is operating at full capacity, in July 2023, it will represent 16% of all the energy consumed by Vale in Brazil.
And adds that the Sol do Cerrado project received approximately R$3 billion (US$590 million) in investments and construction work generated 3,000 jobs at the peak of activities, about 50% local labor and 16% women.
“Sol do Cerrado is an unprecedented project for Vale, bringing local development, renewable energy and is linked to our goal of being leaders in sustainable mining,” commented Eduardo Bartolomeo, Vale’s president.
The project is an important step towards achieving Vale’s climate goals of reducing its net carbon emissions by 33% by 2030 and zeroing them by 2050. Vale hopes to achieve 100% renewable electricity consumption in Brazil by 2025, and globally by 2030.
The share VALE3 ended November 16, 2022 quoted at R$82.44.