There can be few more iconic images to put on your business card: the Maracanã stadium in Rio de Janeiro, Brazil, during the 2014 FIFA World Cup. For Chinese solar energy company Yingli Green, this was their debut on the world stage – lighting the venue which not only hosted the World Cup final but that will also stage the opening and closing ceremonies of the 2016 Olympic Games.
The company supplied 1,552 solar panels for the stadium and also sponsored the event. The solar panels generate 390 kilowatts (KW) of clean energy for the Maracanã, sparing the atmosphere some 2,560 tons of carbon dioxide (CO²) emissions compared to energy generated by non-renewables. “We aim to reduce carbon dioxide emissions and hold a low- carbon Olympics, leaving a green legacy for Brazil,” said Tania Braga, Head of the Rio 2016 Committee on Sustainability, Accessibility and Legacy.
In addition to their flagship contract, Yingli Green has now signed an agreement to supply microgeneration projects in Brazil and works with the Brazilian startup SolarGrid, which is set to install 200 panels by the end of this year.
Yingli’s entry into Brazil, along with companies looking to develop its wind power capabilities, demonstrates the low-carbon potential of China’s economic engagement with Latin America. And it is not the only solar company looking to capitalise on the favourable conditions for suppliers and investors in Brazil. Jinko Solar is also aiming to add much needed capacity and to increase the share of solar in Brazil’s energy mix.
Solar energy is seen as a supplementary energy source that can reduce the effects of shortages in the dry season, especially in northeastern Brazil, when the effects of Brazil’s reliance on hydropower are most acutely felt. Shortages are driving up energy prices for consumers while the spectre of rationing is also looming.
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