Mentioned:
A new innovative floating solar energy project is coming to Brazil. And a publicly traded company is one of the major suppliers making it possible.
What’s happening:
- Tigo Energy (NASDAQ: TYGO) will supply their customer Apollo Flutuantes with optimizers to be installed as part of the new construction for Brazil’s largest floating solar panel project
By the numbers:
- The entire project will consist of 18 separate solar islands and will span a total 100,000 square metres on a water reservoir
- Tigo Energy will deploy 97,200 of their optimizers to help build out the new project
Why it matters:
- Floating solar panel projects have enormous promise for reducing land usage for renewable energy infrastructure and instead leveraging water resources
- Brazil is quickly becoming one of the largest producing countries for solar energy in the entire world due to its abundance of sunlight
Going deeper:
- The new floating solar project will be located on the Lajeado Hydroelectric Power Plant reservoir in Tocantins, Brazil and will be built through a joint venture collaboration between AE Power, Apollo Flutuantes and Tigo Energy
- Tigo Energy’s optimizers allow real time energy monitoring and rapid shutdown of solar panels, which allow solar operators to scale up their power efficiency on demand as well as quickly deal with any safety concerns
The intrigue:
- The ambitions for solar energy continue to ramp up, with Robinhood’s co-founder recently bringing his new startup out of stealth mode that is aiming to generate solar power from space and OpenAI co-founder Sam Altman previously backing a new startup aiming to use solar energy to power data centres
