Press Release

BNZ will build a 49MW solar PV plant in the North Region – Portugal

BNZ, an independent power producer (IPP) that develops, builds and operates solar PV projects, has obtained authorization in the North Region – Portugal to start the construction of a solar PV plant in the Ave intermunicipal community with an installed capacity of 49MWp.BNZ expects the plant to be operational in 2023.

This will be BNZ’s first plant to be built in Portugal, a country in which it expects to install an approximate capacity in excess of 400MWp by 2024. The aggregated fully permitted capacity of BNZ across all geographies stands at 147MWp.

The electricity production of this project would be able to supply the annual electricity needs of around 14,000 people, the equivalent of one third of Evora’s population. The clean energy produced at this plant will avoid 21,500 tonnes of CO2 equivalent emissions per year, which is about 37,000 Lisbon – London roundtrip flights. In addition, BNZ estimates that it will create between 270 and 370 direct and indirect jobs by 2024.

The production of reliable and affordable photovoltaic solar energy located in our country will avoid the importation of fossil fuels such as natural gas from third countries. This will result in greater energy independence and security of supply, in addition to improving environmental sustainability. For example, the energy produced by this BNZ project will save the use of 14 million m3 per year of natural gas that were to be consumed by combined cycle gas turbine (CCGT) plants to generate the same amount of energy.

BNZ is committed to environmental and social progress of the local communities where the company installs its plants. Therefore, in addition to the positive economic impact of the facilities on the local community and its compliance with the maximum environmental criteria, BNZ will collaborate with the local authorities on social projects currently under development.

Around this first plant at Portugal, BNZ adds its support to the PT2020-backed social project “Cuidar Maior”, in the municipality of Vila Nova de Famalicão, in Portugal’s Norte region. This social project is an individualized and personalized intervention program that aims at shedding light and bringing the necessary attention to those in need, because many families in the community are caring for members with special needs, from dementia or Alzheimer to motor or psychomotor issues, oftentimes left fending for themselves.

Managing Director of BNZ, Luis Selva, added: “The company’s main objective is the production of 100% clean energy to help achieve a low carbon future, and Portugal is a priority market for BNZ with strong growth potential in the generation of renewable technologies such as solar PV”.

Board Member of BNZ, Jordi Francesch, said: “BNZ responds to the demands of environmental necessity, helping to tackle climate change and ensuring compliance with the strictest ESG criteria, while offering a long-term vision to local communities”.

BNZ has been advised by the Corporate, Commercial and M&A department of Sérvulo –led by Pedro Silveira Borges– in the legal authorization process for this project.

About BNZ:
BNZ is an independent power producer (IPP) that develops, builds and operates solar photovoltaic projects, and has a pipeline of more than 1 GW of European solar investments under development between Italy, Portugal and Spain with a clear goal: the production of 100% renewable energy to help our economy to achieve a greener future. BNZ is a leader in the energy transition and is committed to environmental and social progress of the local communities where the company installs its plants. Each of those projects will be scrupulously designed to ensure that it goes the extra mile in ESG policies and to support biodiversity, acting ethically in every aspect of BNZ’s business.

BNZ plans to directly employ a diversified and multicultural team as it develops, with a best-in-class management team. BNZ’s professionals have decades of experience in the renewable energy sector and an intimate knowledge of the places where the company operates. At the same time, BNZ professionals work hand-in-hand with local partners who can meet that commitment to each place and share the company’s values.

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