Scatec Signs Memorandum with Equinor and Hydro to Develop 480 MW Solar Power Plant in Brazil

Written by Valdemar Medeiros

Published on 10/12/2020 at 09:47

Ilustração – Brasil e painel solar

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Scatec Signed a Memorandum of Understanding (MoU) on Wednesday (9) with Equinor and Hydro for the Purpose of Simultaneous Development of a 480 MW Solar Power Plant.

With a focus on solar energy and a well-developed balanced reference, the renewable energy niche in Brazil has significant long-term potential. Based on this, Scatec and Equinor are simultaneously developing a portfolio of projects in Brazil and currently have a solar power plant of 162 MW in operation.

According to Terje Pilskog, Partnership Between Hydro and Equinor Promises to Yield Good Fruits

According to Terje Pilskog, EVP Project Development & Project Finance at Scatec, said: “We are pleased to enter into this partnership with Hydro and Equinor, and we believe it will be a fruitful synergy. We all have mutual interests in cooperating and developing this solar energy project, combining Scatec and Equinor’s experience in large-scale renewable energy projects with Hydro’s strong expertise in energy markets and its demand for clean and economical energy in Brazil.”

Hydro’s intention is to ensure that by 2030, at least 30% of CO2 emissions are reduced in its operations, with most of this reduction coming from Brazil.

ARTICLE CONTINUES BELOW

The Three Companies Will Reach an Investment Decision for 2021

The MoU provides a basis for the project to be carried out at a site already defined in Rio Grande do Norte, by Scatec and Equinor. The MoU offers joint ownership and project development by all three parties and the withdrawal of part of the production by Hydro. Subject to final agreement, the companies aim to reach an investment decision by mid-2021.

Scatec Signs Memorandum with Equinor and Hydro to Develop 480 MW Solar Power Plant in Brazil

Scatec Signed a Memorandum of Understanding (MoU) on Wednesday (9) with Equinor and Hydro for the Purpose of Simultaneous Development of a 480 MW Solar Power Plant.

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Scatec Signs Memorandum with Equinor and Hydro to Develop 480 MW Solar Power Plant in Brazil

Scatec Signed a Memorandum of Understanding (MoU) on Wednesday (9) with Equinor and Hydro for the Purpose of Simultaneous Development of a 480 MW Solar Power Plant.

Read Also

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