Currently, Goiás has 4.8% of the country’s installed solar energy capacity.
1,522.5 MW. Fox ESS plans 10% growth in Midwest
Solar energy in the center-west of Brazil has consolidated itself as one of the top ten renewable energy sources, reflecting the growth of the country’s photovoltaic sector. Solar currently has 47,003 GW of installed capacity, according to ABSOLAR maps – the Brazilian Photovoltaic Association (Absolar) which show that the states of the center-west, including Brasilia, are responsible for 16.6% of the installed capacity in solar energy, reaching 5,317.1 MW in August 2024. The three most prominent states are: Mato Grosso with 6.4% (2,048.4 MW), Goiás with 4.8% (1,522.5 MW), Mato Grosso do Sul with 4.1% (1,317.1 MW) and Brasilia with 1.3% (429.1 MW).
Robson Mira, Brazil Country Manager at Fox ESS, highlights the significant growth of solar energy in the Central West region. In the region, solar energy is widely used in homes, businesses, industries and rural properties. We aim to achieve growth of approximately 10% in the region, including the agribusiness sector, where the technology also helps reduce production costs and benefits small producers, as well as its adoption in industrial facilities, enhancing economic and environmental sustainability.
Currently, according to ABSOLAR maps, the photovoltaic sector has already attracted more than R$217.5 billion in new investments and generated more than 1.4 million green jobs in the country. The share of solar energy is equivalent to 19.8% of the Brazilian electrical array. The photovoltaic sector has already managed to avoid 57 million tons of CO2 emissions during electricity generation. According to the entity, since 2012, companies in the photovoltaic sector
It secured more than R$67 billion in revenue for the public treasury.
In distributed generation, there is 31,946.9 GW of installed solar capacity. In the central generation sector, large solar power plants have more than 143.3 GW of capacity in the country.
Fox ESS scenario in Brazil
It is a unicorn company valued at US$1.38 billion on the Hong Kong Stock Exchange and a leader in the energy storage sector, and it is investing nearly R$1 million in the expansion of its distribution and repair center in Cotia (SP).
In 2023, Fox ESS generated revenue of $452 million globally, with growth expected to reach $642 million this year. In Brazil, the company generated revenue of $20 million in 2023 and growth forecast for 2024 is 20%. The agricultural business accounted for 35% of revenue in Brazil in 2023, equivalent to $7 million.
Today, Tsingshan Group, a global powerhouse with annual sales of US$55 billion, is a major shareholder of Fox ESS and a leader in the energy storage industry. Within this conglomerate, REPT BATTERO stands out, ranked as the world’s third largest lithium battery supplier in 2023, according to Infolink’s ranking.
Together, Fox ESS and REPT BATTERO have an annual production capacity of 120 GWh of batteries and cells. This feat is complemented by Fox ESS’s robust inverter production capacity, which currently stands at 10 GW per year and is expected to double by the end of 2024, reaching 20 GW. Furthermore, the total planned manufacturing capacity is 60 GW per year, further strengthening its position as an industry leader.
