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Brazil is the largest solar market outside of China with 1 GW of current capacity versus 15-20 GW of annualized demand. Homerun recognized a unique opportunity to pioneer Latin America’s first 365,000 ton per year solar glass manufacturing facility in Belmonte, Bahia, Brazil.
Homerun is at the forefront of revolutionizing the solar industry in Brazil by harnessing the power of our high purity quartz silica sand resources nearby the build of our plant greatly reducing logistics costs. We will specialize in the processing of this exceptional material to manufacture solar grade glass and components that meet the stringent requirements of the solar energy sector. With a strong commitment to quality, innovation, and sustainability, we aim to drive the global adoption of solar energy by providing superior materials to solar panel manufacturers worldwide.
The Brazil government recently imposed 25% tariffs on the import of Chinese made solar components including glass. At the same time, the government enhanced tax incentives for companies retaining domestic supply in the solar sector. This places Homerun in an extremely advantageous position.
These applications highlight the versatile role that silica sand plays in various aspects of solar energy production and utilization. Its properties make it indispensable in the development of efficient and sustainable solar technologies.
The global solar power market is projected to grow from $234.86 billion in 2022 to $373.84 billion by 2029, at a CAGR of 6.9% in forecast period, 2022-2029
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The facility is designed for 1,000 tonnes per day, totaling roughly 365,000 tonnes per year, making it Latin America’s first large-scale dedicated solar glass plant.
The plant will be located beside high purity, low-iron silica sand resources owned by Homerun, reducing input costs and logistics, and ensuring consistent supply of premium feedstock for solar. glass manufacturing
Secured offtake agreements already exceed 300,000 tonnes annually and are expected to surpass plant capacity, reflecting high market demand and solid revenue visibility from leading Brazilian solar module manufacturers
The solar glass manufacturing budget is estimated at €150 million, with additional funds for construction and utilities. Homerun is engaging with international financial syndicates for capital funding including discussions with the industrial development bank of the Brazil Government (BNDES) where Homerun has recently received a Joint Support Plan for funding.
Brazil recently imposed a 25% tariff on imported Chinese solar components, including glass, and expanded tax incentives for domestic supply, protecting Homerun’s pricing power and profitability
The plant will incorporate advanced energy-efficient systems and flue gas treatment for low emissions. Natural gas will be used as the primary energy source, with additional measures for environmental compliance.
Homerun expects to create up to 500 direct jobs, 2,800 indirect jobs, and 1,000 temporary jobs during construction, plus technical training programs and regional infrastructure upgrades
A Memorandum of Understanding secures land donation from the municipal government, expedited permitting, dedicated natural gas supply, and substantial tax incentives for Homerun’s projects in Bahia
Owning both the raw silica resource and glass manufacturing allows for cost control, reduced supply chain risks, and enhanced margins, positioning Homerun as a market leader in Brazil’s surging solar sector
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