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Construction of the New Solar Power Plant in Rio Grande do Norte Will Have an Investment of About US$ 430 Million Made by Scatec
The Norwegian multinational Scatec ASA, one of the largest references in renewable energy solutions and with investments on four continents, is starting the construction, along with other clean energy companies, of the solar energy Mendubim Project in Rio Grande do Norte.
The solar power plant in Rio Grande do Norte is the largest plant in the state and one of the company’s greatest global achievements, with around 531 MW of installed capacity. The Mendubim solar energy project is Scatec’s second proposal on Brazilian soil. The company was also present in 2017 in the Apodi Project, which allowed for a capacity of 162 MW, and is already in operation in Ceará.
The new project that will develop solar energy in Rio Grande do Norte is being created in partnership with Equinor ASA and Hydro Rein. Together, the companies signed a 20-year Power Purchase Agreement (PPA) in dollars with Alunorte, one of the leaders in global alumina supply for the aluminum industry. The project, which is still in its early stages, will provide approximately 60% of the solar energy generated in Rio Grande do Norte. The remaining volume of produced energy will be sold in the free market. The partner companies are now beginning to procure the essential equipment and actions to initiate the construction of the solar power plant in Rio Grande do Norte.
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Investment Made by Scatec Exceeds US$ 400 Million
The investment made by Scatec is estimated at around US$ 430 million, which will be financed by a combination of debt and equity from the partners. The financial closure and the first disbursement of the financing are expected to take place by the end of this year. “This investment is an important symbol for fulfilling the company’s strategy and strengthening its position in a key growth market for renewable energy with strong partners, including Equinor and Hydro Rein. It is expected that the solar energy market in Brazil will advance even further, and we are pleased to proceed with this project that will generate energy in the Rio Grande do Norte, equivalent to the consumption of 620 thousand households in Brazil,” said Scatec’s CEO, Terje Pilskog.
All three partners hold an equal 33.3% stake in the solar power plant project in Rio Grande do Norte and will also jointly provide Engineering, Procurement and Construction services. Scatec will provide Operation and Maintenance services, as well as Asset Management services for the solar plants, along with the partner companies. Olivier Girardot, director of Hydro Rein, states: “Brazil is a leader in the solar energy ranking in Latin America, and we are very excited to be part of this project alongside Equinor and Scatec. The Mendubim proposal allows for greater decarbonization of Alunorte, which is vital to achieving Hydro’s goal of a 30% reduction in CO2 by 2030.”
Construction of the Solar Power Plant in Rio Grande do Norte Will Create Numerous Jobs
The construction of the new solar power plant will generate approximately 1,200 direct and indirect jobs throughout the construction period, with residents of Rio Grande do Norte being the priority for companies regarding workforce hiring. Rio Grande do Norte is seen as one of the states in Brazil with the highest solar incidence due to its proximity to the Equator, meaning it has great potential for renewable energy generation. “We believe in the potential of renewable energy in Brazil, and we are working to increase our presence in the country, diversifying our investments and providing competitive solutions for the corporate PPA market.”
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