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Acquisition Marks The Entry Of Yinson Into The Brazilian Renewable Energy Generation Market And Increases Its Projects Worldwide
The Malaysian multinational, Yinson, recently awarded 22-year oil and gas contracts by Petrobras, announced through its Renewable Energy Division that Yinson Renewables (“YR”) has completed the acquisition of two renewable energy generation projects in Ceará. The combined expected installed capacity of the wind energy projects is 486MW.
Licenses and permits are currently being secured for the projects, with construction expected to begin within the next 12 to 24 months, subject to the procurement of Power Purchase Agreements, adequate financing, and a final investment decision.
The projects are being developed in partnership with DWUL Energy (“DWUL”) and Ziatech, respectively, two of Brazil’s leading renewable energy developers. Both DWUL and Ziatech will continue supporting Yinson until the projects reach the “ready to build” (RTB) stage.
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This acquisition marks YR’s entry into the Brazilian renewable energy generation market and increases its growing pipeline of projects worldwide.
YR Aims To Become One Of The Leading Independent Global Renewable Energy Producers
The CEO of Yinson Renewables, David Brunt, said: “Brazil is an important market for Yinson, with three long-term FPSO contracts awarded to Yinson’s offshore production division. Building a renewable energy presence here allows us to explore synergies between Yinson’s business divisions and leverage the Group’s resources, capabilities, and experience on the ground. This establishes a solid foundation for Yinson to become a significant player across the broader energy space in Brazil.”
Yinson Renewables’ goal is to become one of the leading independent global renewable energy producers (IPP). In addition to its first operational and under-construction assets in India (totaling 460 MW), YR has secured a 1.5 GW pipeline of utility-scale projects that are under development and progressing towards RTB status across Latin America, Europe, and the Asia-Pacific region. Additionally, YR is actively working on a variety of early-stage pipeline opportunities in the same regions, totaling approximately 3 to 5 GW.
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