ENGIE is exploring bitcoin mining and battery storage as methods to absorb surplus electrical energy at its Assu Sol photo voltaic plant in northeastern Brazil.
The power is ENGIE’s largest photo voltaic challenge globally, with 895 megawatts of capability.
It has confronted income stress from curtailment since 2023 as Brazil’s grid and demand have struggled to maintain tempo with fast renewable buildout.
Curtailment hits renewables since 2023
Curtailment happens when turbines are instructed to scale back output as a result of the grid can not take in out there energy.
In Brazil, that has left photo voltaic and wind operators unable to promote all of the electrical energy they produce, contributing to billions of reais in misplaced income throughout the sector.
ENGIE appears for on-site ‘offtakers’
To handle the problem at Assu Sol, ENGIE mentioned it’s looking for “offtakers” that may eat energy instantly on the website.
Eduardo Sattamini, ENGIE’s nation supervisor in Brazil, mentioned the corporate is evaluating choices.
Sattamini advised journalists:
“We’re taking a look at some potential offtakers.”
Batteries or bitcoin mining
ENGIE’s two essential routes are giant battery techniques or a bitcoin mine utilizing ASICs that may be switched on when extra energy is obtainable and turned off rapidly when the grid wants the vitality.
The corporate’s curiosity is framed round utilizing electrical energy that might in any other case be wasted, moderately than making a directional wager on bitcoin.
Brazil’s overseas commerce council has diminished import taxes to zero on high-efficiency mining gear till January 2028, probably decreasing buildout prices.
Sattamini mentioned implementation would take time, including that it could probably take a few years.
ENGIE is the biggest non-state-owned utility in Brazil and operates 11 vitality complexes.
By way of its majority stake in ENGIE Brazil, it manages practically 9,000 megawatts of put in capability.