Exus Management Partners is buying a 1GW solar project in Brazil from Decal Renewables and Upside Value.
Exus Brasil Investimentos, a subsidiary of Exus, has agreed to buy the shares of Riacho da Serra Energia, and the project-related assets, from Decal and Upside Value. The project consists of 20 solar parks situated in Piau铆.
Exus said the development will represent an investment of more than BRL3.5bn (鈧�669m) in the country and will power 950,000 homes with clean energy.
Pedro Fragoso, partner at Exus Brazil, said: 鈥淲e are delighted to have secured a deal for a highly significant project in the context of Brazil鈥檚 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 CO鈧� emissions.
鈥淏razil has an astonishing abundance of renewable energy resource 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.鈥�
Matteo Fedeli, CEO at Decal Renewables, said: 鈥淚t has been a pleasure working with Exus鈥檚 team so far and we look forward to completing the transaction in the following months.
鈥淲e are proud to be contributing towards the energy transition in the country and globally, despite the very challenging conditions affecting the industry.鈥�
Enrique Sira, CEO at Upside Value, said: 鈥淟ike the rest of the projects in Upside鈥檚 portfolio, Riacho da Serra Fase 1 has been conceived to bring a large positive impact in terms of clean-energy generation, CO鈧� mitigation and contribution to economic development and value creation.
鈥淲e 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.鈥�
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