"SunEdison Inc will build a plant in Brazil to produce photovoltaic panels for use in solar farms the company intends to install in the country," said SunEdison local director Luis Pita on Wednesday.
"SunEdison will decide in the coming weeks the location and size of its plant," Pita said.
"Our target is to achieve at least 1 gigawatt in solar projects in association with Renova in four or five years," the director told reporters on the sidelines of a conference in Sao Paulo.
Pita says its new plant should be delivering panels by 2016, so decisions regarding its construction should come quickly.
He said Brazil and Mexico are the markets with the largest potentials for growth in Latin America due to the size of their economies, high energy costs and advanced regulatory frameworks.