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Acelen, Right Arm of Mubadala Capital Investment Fund, Announced a Billion-Dollar Investment Focusing on the Renewable Energy Market.
Luiz Mendonça, president of Acelen, stated in an interview that the company, owner of the Mataripe refinery located in Bahia, will invest about R$ 1.1 billion in renewable energy at the unit starting next year. This amount is similar to the investments made during this year. It is important to emphasize that, only in April, Acelen announced investments of R$ 500 million in the unit.
Acelen Aims to Be a Clean and Zero-Emission Company
According to Mendonça, this amount is 2.5 times more than what was being invested in the Mataripe refinery, highlighting that the unit in Bahia accounts for 14% of the country’s refining capacity. The executive, who participates in the Rio Oil & Gas, further emphasized that a large part of this investment in the Mataripe refinery is aimed at boosting the unit’s maintenance program and enhancing its efficiency. Mendonça mentions that Acelen is paving a new path, as the industry has become accustomed to not having a private refinery.
The goal, according to the executive, is to transform Acelen into a renewable energy company through acquisitions and mergers.
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Renewable Energy Could Serve as the Main Supply Source for the Mataripe Refinery
Mendonça states that one of Acelen’s goals is to invest in wind and solar energy. Without providing many details, the executive highlighted the possibility of investments in parks to supply the Mataripe refinery itself.
Brazil is a frontier that should be explored. The company aims to be one of the leaders in the energy transition, with a team dedicated to new businesses, whatever they may be, through acquisitions and mergers.
Mendonça states that the strategy is to monitor international market prices and the company cannot disconnect from it, as isolating the country from the international market puts it at risk. Acelen will always be competitive; the difference is its agility.
Acelen Invests R$ 500 Million in the Mataripe Refinery
The Mubadala Capital investment fund’s arm announced in April an investment of R$ 500 million that promises to create thousands of new job openings. The funds will be applied in the scheduled maintenance shutdown cycle of the unit during the next year.
The estimate is that 4,000 jobs will be generated by the company at the peak of activities, which is expected to happen next month in October. The goal is to increase operational levels, which recorded 65% in 2021, to over 97% of the installed capacity.
The company believes that, through new investments, it will be possible to generate new products, expand its production to other markets, and optimize customer service.
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