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Inauguration marks significant advancement in Equinor’s renewable energy production capacity
The Mendubim solar plant, located in the heart of Rio Grande do Norte, Brazil, has just been activated, marking a significant step forward for Equinor. With a capacity of 531 MW, this new addition increases the company's electricity production in the country by an impressive 30%.
Veronica Coelho, the President of Equinor in Brazil, emphasized that Mendubim is a crucial milestone in the company's energy diversification, which already has a comprehensive portfolio that includes oil, gas and a growing focus on renewables. The plant is designed to generate 1.2 TWh of energy annually, with 60% of this production guaranteed by a 20-year power purchase agreement (PPA) with Alunorte, a global leader in the supply of alumina.
A Joint Venture Driving Energy Innovation
The creation of Mendubim is the result of a collaboration between Scatec, Hydro Rein and Equinor, where all parties have equal economic interests of 30% in the project. Furthermore, Alunorte decided to exercise its purchase option, acquiring the remaining 10% at the start of commercial operations.
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Equinor's Olav Kolbeinstveit expressed the company's pride in launching a large-scale solar plant in Brazil, the result of a strong partnership with Scatec and Hydro Rein. “We are committed to supporting Brazil’s ambitions for a diverse and sustainable energy matrix,” he said.
Commitment to sustainability and growth
This project not only represents an important strategic advancement for Scatec and reinforces Equinor's position in Brazil's renewable energy market, but also highlights Hydro Rein's commitment to developing renewable energy solutions for more sustainable industries. Most of the energy produced by Mendubim will be used by Hydro's alumina refinery in Pará, contributing to one of the largest decarbonization projects in the world.
The Mendubim operation further solidifies Equinor's position in the renewable energy sector in Brazil, which already includes other assets such as the Apodi solar plant and the Serra da Babilônia wind farm. With the addition of Mendubim, Equinor not only expands its electrical energy production in the country, but also ventures into the Brazilian free electrical energy market for the first time.
Expanding the electrical energy portfolio in Brazil
Equinor envisions a future in which its electricity portfolio in Brazil is both profitable and relevant, planning to double its total energy generation in renewables to around 4 TWh as early as 2024. Danske Commodities, a subsidiary of Equinor, will play a role crucial in managing this portfolio, taking advantage of its negotiation and risk management capabilities to maximize value creation in the Brazilian market.
With Mendubim in operation, Equinor reaffirms its commitment to the advancement of renewable energy in Brazil, contributing to the diversification of the country's energy matrix and supporting the expected growth in demand for sustainable energy.
Source:
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