![Equinor Brings Solar Plant Online in Brazil](/sites/default/files/styles/hart_news_article_image_640/public/image/2024/03/equinor-brings-solar-plant-online-brazil.jpg?itok=KeOgs_GD)
Equinor, Hydro Rein and Scatec each hold a 30% interest in the project. Alunorte holds the remaining 10%. (Source: Scatec/ Equinor)
Equinor on March 8 said the 531-megawatt Mendubim solar plant in Brazil has started operations, lifting its equity power production in the country by 30%.
Operated as a joint venture between Equinor, Hydro Rein and Scatec, the solar plant will produce 1.2 terawatt hours of power annually. Alumina supplier Alunorte will purchase about 60% of the power produced at the plant, while the rest will be sold in Brazil’s power market, Equinor said in a news release.
“Equinor has conducted business in Brazil for over two decades, and we see the country as a core area for long-term profitable growth,” said Olav Kolbeinstveit, senior vice president for onshore and markets within renewables at Equinor. “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.”
The solar plant is expected to deliver real base returns in the middle of Equinor’s guided range for renewables of between 4% to 8%, the company said.
Equinor, Hydro Rein and Scatec each hold a 30% interest in the project. Alunorte holds the remaining 10%.
Recommended Reading
Trio Chairman Robin Ross Named CEO Less Than a Month After Return
2024-07-15 - Robin Ross, who last month returned to Trio Petroleum as board chair, has been named CEO while predecessor Michael Peterson will remain as a consultant.
Upstream, Midstream Dividends Declared in the Week of July 8, 2024
2024-07-11 - Here is a selection of upstream and midstream dividends declared in the week of July 8.
Solaris Stock Jumps 40% On $200MM Acquisition of Distributed Power Provider
2024-07-11 - With the acquisition of distributed power provider Mobile Energy Rentals, oilfield services player Solaris sees opportunity to grow in industries outside of the oil patch—data centers, in particular.
Offshore Guyana: ‘The Place to Spend Money’
2024-07-09 - Exxon Mobil, Hess and CNOOC are prepared to pump as much as $105 billion into the vast potential of the Stabroek Block.
Pembina Completes Partial Redemption of Series 19 Notes
2024-07-08 - The redemption is part of Pembina Pipeline’s $300 million (US$220.04 million) aggregate principal amount of senior unsecured medium-term series 19 notes due in 2026.