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Exus Brazil Is Making Billion-Dollar Investments in the Brazilian Solar Energy Sector. Its Solar Plant Promises to Generate Power for Millions of Homes and Create Thousands of New Jobs.
Exus Brazil Investments, a subsidiary of Exus Management Partners, an independent investment and asset management company for renewable energies, has reached an agreement to acquire all shares of Riacho da Serra Energia SA and the assets related to the solar plant project from Decal Renewables and Upside Value, subject to regulatory approvals and other conditions precedent.
Project Will Create Numerous Jobs in the Solar Energy Sector
The project includes the construction of 20 solar power plants in Piauí and will have a total installed capacity of over 1 GWp, already authorized by Aneel.
Exus Brazil’s solar plant will represent an investment of over R$ 3.5 billion, generating about 2,500 direct and indirect jobs, bringing development to the involved communities, powering 950,000 homes with renewable energy, and reducing about 1 million tons of CO₂ emissions in Brazil.
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According to Exus Brazil partner Pedro Fragoso, the company is very pleased to have secured an agreement for such an important project in the context of the Brazilian energy matrix.
The company responsible for the project is proud to provide solar energy to nearly one million homes and to invest in Brazil and local communities, generating thousands of new direct and indirect jobs, while also contributing to the reduction of CO₂, which is a goal for many companies today.
Brazil has great potential for natural resources and clean energy opportunities, and Exus Brazil hopes to fulfill its role both in the growth of the domestic sector and in contributing to the global journey to net zero.
Solar Plant Will Commence Operations in 2024
According to Fragoso, with the interconnection also granted and the transmission system use contracts signed with the national grid operator ONS, the cluster is fully licensed for construction to begin, generating numerous jobs. The project structuring will be completed in two phases, with the aim of achieving commercial operation by the second half of 2024.
Among the assets acquired by Exus Brazil are those related to the Decal Renewables project, which is Decal SPA’s clean energy business, with operations in Italy, Panama, Spain, Russia, and Brazil. According to Decal Renewables CEO Matteo Fedeli, it has been a great pleasure for his company to work alongside the Exus Brazil team so far, and he plans to complete the transaction in the coming months.
The company is happy to contribute to the country’s energy transition through the solar plant and also to the economy by generating jobs, despite the very challenging conditions impacting the industry.
Riacho da Serra Phase 1
The other asset was acquired by Upside Value, which develops and installs infrastructure for clean, economical, and large-scale energy sources, utilizing cutting-edge technologies and innovative business models to optimize the impact of solar, wind, biomass, and other energy sources.
According to Enrique Sira, CEO of Upside Value, they are extremely pleased to have completed the development of Riacho da Serra Phase 1. Like the other projects in Upside’s portfolio, Riacho da Serra Phase 1 was designed to create a significant positive impact in terms of sustainable electricity generation, CO₂ reduction, and contribution to economic development and value creation. The company will continue to create high-quality projects and partner with suitable investors and generators to play its role in the development of renewable energies.
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