Equinor: invests in 531 MW solar project in Brazil

(CercleFinance.com) - Equinor announces that it has made the final decision to invest in the 531 MW "Mendubim" solar project in Brazil.


Located in the state of Rio Grande do Norte, Mendubim is a joint venture between Scatec, Hydro Rein and Equinor. Each partner holds 33.3% and will jointly provide engineering, procurement and construction (EPC) services.

Operation and maintenance, as well as asset management services for the plant, will be provided by Scatec and Equinor.

From 2024 onwards, Mendubim will produce approximately 1.2 TWh of electricity annually, which is equivalent to the electricity consumption of 620,000 Brazilian households," says Olav Kolbeinstveit, senior vice president for energy and markets in Equinor's renewable energy division.

The project requires capital expenditure of around 430 million dollars, which will be financed by a combination of financing and equity contributions from the partners.



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