Exus Purchases 1GW Solar Power Project In Brazil

Exus Brasil Investimentos – known for making investments in green projects – will be acquiring a solar power project complex worth 1 GW in Brazil from Decal Renewables and Upside Value. The solar portfolio actually consists of 20 different solar projects in Piauí. The transaction will take place through acquisition of shares of Riacho da Serra Energia and other solar assets.

According to ANEEL – the electricity regulation authority of Brazil – has already granted permission to the project. All solar power plants would have a combined capacity of about 1.1GW. It will come through an investment of over $650 million that will generate about 25000 employment opportunities. The clean power generated will light up 95000 households.

The solar power cluster has all the necessary licenses for the start of its construction. The Brazilian authorities have granted the interconnections. Grid operator ONS has also signed an agreement for the use of a transmission system. It will be developed in two phases and it will be operationalized by the second half of 2024.

Pedro Fragoso, Partner at Exus Brazil, informed, “We are delighted to have secured a deal for a highly significant project in the context of Brazil’s energy mix. We are proud to not only be delivering green energy to almost one million homes, but also injecting investment into the country and local communities, creating thousands of new jobs, and significantly reducing CO2 emissions.”

Fragoso also added, “Brazil has an astonishing abundance of renewable energy resources and opportunity, and 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.”

Matteo Fedeli, CEO, Decal Renewables, held, “It has been a pleasure working with Exus’ team so far and we look forward to completing the transaction in the following months.”

Enrique Sira, CEO, Upside Value informed that like the rest of the projects in Upside’s portfolio, Riacho da Serra Fase 1 has been conceived to bring a large positive impact in terms of clean energy generation, CO2 mitigation and contribution to economic development and value creation.

“We will continue to develop high quality projects and partner with suitable investors and generators to play our part in the development of renewables infrastructure and in the transformation of the power generation industry in Brazil and the countries where we operate,” said Sira.