On October 30 local time, CEEC announced the financial close of the Coremas Photovoltaic Project in Brazil, its first renewable energy investment in South America. The completion establishes China Energy Overseas Investment Co., Ltd., CEEC’s subsidiary, as the controlling shareholder with full operational control. This strategic move represents a significant milestone in CEEC’s expansion across South America’s renewable energy sector.
Located in Paraíba State, northeastern Brazil, the Coremas Photovoltaic Project has a total installed capacity of approximately 93 MW. The project is expected to generate 167 GWh of electricity annually – enough to power more than 80,000 local households while reducing standard coal consumption by approximately 20,500 tonnes each year. The project has already created nearly 100 local jobs. Following the Financial Close, CEEC plans to implement comprehensive optimization measures to enhance the project’s generation efficiency and operational economics, positioning the project as a benchmark for renewable energy development throughout South America.
