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%.
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