The Riacho da Serra project is made up 20 PV plants totaling 1.06 GW across the state of Piauí, Brazil. The projects have already secured approval from Brazilian energy regulator ANEEL and have been granted contracts for the use of the transmission system by grid operator ONS. The two-phase project is expected to begin producing electricity in the second half of 2024.
Exus Management Partners, an international investment fund, has announced the acquisition – through its Brazilian subsidiary, Exus Brasil Investimentos – of 100% of the project and all related assets, from developers Decal Renewables and Upside Value. The agreement is still subject to regulatory approvals and other conditions.
“Brazil has an astonishing abundance of renewable energy resource and opportunity,” said Pedro Fragoso, Partner at Exus Brazil. “We look forward to playing our part in both growing the domestic sector, as well as helping to drive the global journey to net zero.”
Finergreen reportedly served as exclusive financial adviser to the sellers, while TozziniFreire Advogados acted as legal adviser. Veirano Advogados, for its part, acted as legal adviser to Exus Brasil Investimentos.
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