EDP Smart, a division of EDP's portfolio of energy solutions, and Santander Financiamentos, have entered into a partnership to offer energy company customers a specific credit line for the purchase of panels and photovoltaic systems. With rates starting at 0.79% per month and funding period up to 60 months, the financing is available to residential and small business consumers, not limited to bank customers, in EDP's concession areas in São Paulo and Espírito Santo.

On the website edpsmart.com.br/residencias/solar, a simulator points out the estimated monthly savings with the solar system, the number of modules needed to meet the customer's energy consumption, as well as the value and return on investment time.  Transactions will be 100% digital, done simply and quickly. The offer will be expanded to other regions of Brazil, in accordance with EDP's expansion strategy.

The credit analysis of the client applying for photovoltaic system financing takes into account factors such as credit risk and its relationship with the bank. After the financing is approved, EDP sends a technician to the client to study the implementation site and develop the project. Installation is done within 30 business days, considering a residential project up to 12 kWp. EDP is responsible for the implementation and operation of the system, whose shelf life is 25 years.

The distributed generation system allows the customer to generate their own clean and renewable energy and “return” the surplus to the distribution network during non-use hours and can rely on the utility system when needed. The results for the user are visible in the electricity bill, which is even protected against tariff variations.

“Brazil has recently surpassed the 1 GW mark of distributed generation installed capacity, as it reinforces the importance of the sector for the Company. We want to offer consumers the possibility to purchase solar panels easily and quickly, as the partnership between EDP Smart and Santander Financiamentos provides”, highlights Carlos Andrade, vice president of Strategy and New Business at EDP Brasil.

In the opinion of Karine Bueno, head of sustainability for Santander Brazil, the partnership has everything to be a watershed in the distributed solar generation market. “It is not new that we invest and foster renewable energy, so we believe that the partnership with a large company, present throughout the value chain of the electricity sector, will give a new scale to the segment,” she says.

André Novaes, director of Santander Financiamentos, adds that the bank has the right tool to meet the demand with speed and quality. “The conditions offered to EDP's customers are special, which makes the installation a good business for the customer, with guaranteed return”, says André Novaes, director of Santander Financiamentos.

Solar microgeneration system

Advances in distributed solar generation in Brazil

According to the Brazilian Association of Photovoltaic Solar Energy (Absolar), Brazil has 94.2 thousand installed generation units, generating credits for 118 thousand consumer units. In 2019, the installed capacity of this generation increased by 70.9%. The association points out that residential consumers lead the list in number of installed systems, accounting for 73.8% of the total, followed by retail and services, which together account for 17.3%.

Focus on energy solutions

EDP has a unit dedicated to the implementation of solar self-production projects and distributed generation for commercial and industrial customers. Since 2017, the Company has negotiated 19 solar energy projects with approximately 30 MWp of contracted capacity.

EDP recently opened, in Itacarambi, Minas Gerais, the largest solar energy complex ever implemented by the Company. Composed of two power plants totaling 8.33 MWp, the solar plant guarantees 100% of the energy supply of VillageMall, a commercial center located in Rio de Janeiro. According to Multiplan, the project, with an area of 240 thousand square meters, the equivalent of 24 soccer fields, will provide savings of R$ 55 million over 10 years.

The Renewable Energy Bank

One of the banks that invest the most in the expansion of renewable energy, Santander has been responsible for financing and structuring 34% of wind projects developed in the country in the last 12 years. Three years ago, it also started to promote the development of solar energy, with strong participation in the first auctions of this source held in the country.

In distributed solar photovoltaic generation, Santander pioneered the creation of a credit line for individual customers, as a way to encourage micro and mini power generation. The Bank currently has over 600 integrators accredited to Santander Financiamentos and also has a credit line for account holders with exclusive rates and terms.

About EDP in Brazil

With over 20 years of experience, EDP is one of the largest private companies in the electricity sector operating throughout the value chain. The Company, which has over 10,000 direct and outsourced employees, operates in Generation, Distribution, Transmission, Trading and Energy Services. EDP has six hydroelectric and one thermoelectric generation units and serves about 3.5 million customers through its Distributors in São Paulo and Espírito Santo. Recently, EDP became CELESC's main shareholder in Santa Catarina. In Brazil, EDP is a reference in areas such as Innovation, Governance and Sustainability, having been in the B3´s Corporate Sustainability Index (ISE) for 13 consecutive years.