On 8 March the 531 MW Mendubim solar plant in Brazil started commercial operations, an event that saw a 30% increase in Equinor’s equity power production in Brazil. It is anticipated that the plant will produce 1.2 TWh of energy per year.
Approximately 60% of this output will be sold on a 20-year USD-denominated power purchase agreement with Alunorte, one of the world’s leading suppliers of alumina for the aluminium industry. The remaining production will be sold in the power market in Brazil.
The project is developed and operated as a joint venture of Scatec, Hydro Rein and Equinor. Each of the partners has an equal economic interest of 30% in the project. At the start of commercial operations, Alunorte exercised its call option and now holds the remaining 10%.
Olav Kolbeinstveit, senior vice president for onshore and markets within Renewables at Equinor, commented: “Launching a major new solar plant in Brazil in partnership with Scatec and Hydro Rein is an important achievement. Equinor has conducted business in Brazil for over two decades, and we see the country as a core area for long-term profitable growth. By investing in renewable energy, we are supporting Brazil’s ambitions towards a diverse energy mix and helping to meet the expected power demand growth in the country.”
Image: The Mendubim solar plant in Brazil has started commercial operations (courtesy of Scatec)
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