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Exus Brasil Investimentos (Exus Management Partners) is a subsidiary that has announced a deal for 100% of Riacho da Serra Energia S.A. and the project-related assets from Decal Renewables and Upside Value. This transaction is subject to regulatory approvals.
The project will consist of 20 solar parks located in Piaui, the epicenter of Brazil’s highest radiation “solar belt”. It has a total installed capacity of more than 1GW. This was already granted by ANEEL (Brasil’s electricity regulatory agency).
This development will result in an investment of over BRL 3.5 billion (USD 650 million), in the country. It will also create approximately 2,500 jobs in the local communities, provide development to those involved, and power 950,000 homes with clean electricity. It will reduce approximately 1 million tonnes of Co2 emission.
The cluster is now fully licensed and can begin construction with interconnection. The project structure will be completed in two phases with the goal of commercial operation in the second half 2024.
Exus Brazil Partner Pedro Fragoso said that they were delighted to have signed a contract for a significant project within Brazil’s energy mix. We are proud that we will not only deliver green energy to nearly one million homes but also invest in the country and local communities, creating thousands more jobs and significantly reducing CO2 emissions. Brazil is home to an amazing amount of renewable energy resources. We look forward to contributing to the growth of the Brazilian sector as well as to helping the world get to net zero.
Matteo Fedeli is the CEO of Decal Renewables. He said, “It’s been a pleasure to work with the Exus team so far and I look forward to completing this transaction in the coming months.”We are proud to have contributed to the energy transition in the country, and worldwide, despite the extremely challenging industry conditions.”
EnriqueSira is the CEO of Upside Value. He said, “We are very pleased to have completed “Riacho da Serra Fase 1”. Like all the Upside projects, “Riacho da Serra Fase 1” has been designed to have a significant positive impact on clean energy generation, CO2 mitigation, economic development, and value creation. We will continue to develop quality projects and partner up with generators and investors to help us play our part in the growth of renewables infrastructure in Brazil and other countries.
Finergreen was the exclusive financial advisor for the sellers. Tozzini Freire Advogados provided legal counsel. Veirano Advogados acted as legal counsel to ExusInvestimentos.