Qair and Ultragaz sign PPA for 131.5 GWh/year from Bom Jardim Solar Complex in Ceará, Brazil

French developer Qair and Brazilian energy company Ultragaz have formalized a Power Purchase Agreement (PPA) for the supply of approximately 131.5 GWh of renewable energy per year from the Bom Jardim solar project located in Icó, Ceará. The deal supports Ultragaz's accelerated entry into the electricity sector and strengthens its decarbonization targets, while providing Qair with revenue predictability for the asset, which entered commercial operation on January 1, 2026. The PPA covers a strategic portion of Bom Jardim's production with long-term supply horizons, reflecting a growing trend among large consumers and traders seeking to mitigate energy price volatility and secure renewable energy certificates. The transaction validates Qair's competitive positioning in Brazil's Northeast region and demonstrates the consolidation of Brazil's free energy market (Mercado Livre de Energia).

Counterparts (2)

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Qair

company

Qair is an independent power producer (IPP) focused on developing, financing, building, and operating renewable energy projects. They invest in a diversified portfolio of renewable energy sources, including onshore wind, offshore wind, solar PV, hydroelectric, biogas, and green hydrogen.

Offtaker

Ultragaz

company

Brazilian energy utility with over 80 years operating nationwide LPG distribution, expanding into biomethane and electricity markets. Serves residential, commercial, industrial, and agricultural segments with gas, renewable biomethane, distributed generation, and free energy market solutions.