Free translation by : Inspenet, December 9, 2022
Equinor announced the final decision to invest in Mendubim, a 531 MW solar energy project. The total investment is estimated at USD 430 million and will be based on a combination of long-term financing and capital contributions from partners.
The project supports the company’s ambition to accelerate the growth of renewable energy and develop as a power producer with a focus on selected areas.
Mendubim is Equinor’s second large-scale solar energy project in Brazil, which began renewable activities with the 162 MW Apodi solar plant, in operation since 2018, in partnership with Scatec.
The solar project is a joint venture between Scatec, Hydro Rein and Equinor, and is located in the state of Rio Grande do Norte. The three partners have equal economic participations of 33.3% in the project and will jointly perform the EPC services. Operation and maintenance services, in addition to asset management, will be provided jointly with the Norwegian company and Scatec.
According to Olav Kolbeinstveit, Equinor’s Senior Vice President of Energy and Renewable Markets, starting in 2024, Mendubim will produce, annually, about 1.2 TWh of energy, which is equivalent to the energy consumption of 620,000 Brazilian homes and the phase of Construction will generate more than a thousand direct and indirect jobs. Mendubim will deliver real returns within the range estimated by the company for renewable projects worldwide, from 4 to 8%.
Photo: ShutterStock
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