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Construction of the new solar power plant in Rio Grande do Norte will have an investment of around R$ 430 million made by Scatec
The Norwegian multinational Scatec ASA, one of the biggest references in renewable energy solutions and which has investments in four continents, is starting the construction, together with other companies in the clean energy sector, of the solar energy Mendubim, 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 biggest achievements worldwide, 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 at the Apodi Project, which allowed for a capacity of 162 MW, which is already in operation in Ceará.
The new project that will develop solar energy in Rio Grande do Norte is being prepared jointly with Equinor ASA and Hydro Rein. Together, the companies signed a PPA (Power Purchase Agreement) in dollars for 20 years, with Alunorte, one of the world's leading suppliers of alumina for the aluminum industry. The project, which is still in its infancy, will supply approximately 60% of the solar energy generated in Rio Grande do Norte. The remaining volume of energy produced will be sold on the free market. The partner companies are now starting the acquisition of the main equipment and actions to start the construction of the solar power plant in Rio Grande do Norte.
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Investment made by Scatec exceeds R$ 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 funding are expected to be completed at the end of this year. “This investment is an important symbol of fulfilling the company's strategy and fortifying its position in an important renewable energy growth market with strong partners, which include Equinor and Hydro Rein. The solar energy market in Brazil is expected to advance further and we are pleased to proceed with this project that will produce energy, in the Rio Grande do Norte, equivalent to the consumption of 620 homes in Brazil,” said Scatec CEO Terje Pilskog.
Both three partners have an equal stake of 33,3% in the project for the solar power plant in Rio Grande do Norte and will jointly provide Engineering, Procurement and Construction services. Scatec will provide Operation and Maintenance services, as well as Asset Management services for the solar plants, together with partner companies. Olivier Girardot, director of Hydro Rein, states: “Brazil is the leader in solar energy in Latin America, and we are very excited to be part of this project together with Equinor and Scatec. The Mendubim proposal allows for further decarbonization of Alunorte, which is essential to achieve Hydro's target of a 30% reduction in CO2 by 2030".
Construction of the solar power plant in Rio Grande do Norte will generate numerous jobs
The construction of the new plant of solar energy will generate approximately 1,2 direct and indirect jobs throughout the construction period, with the residents of Rio Grande do Norte being the priority for companies to hire labor. Rio Grande do Norte is seen as one of the states in Brazil with the highest solar incidence due to its proximity to Ecuador, that is, 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.”
