Equinor has made final investment decision on the 531 MW Mendubim solar projects in Brazil. Mendubim is developed as a joint venture between Scatec, Hydro Rein and Equinor, and is located in the state of Rio Grande do Norte. Total project capital expenditure is estimated to be around USD 430 million. The asset will be funded by a combination of project financing and equity contribution from partners. Around 60% of the produced power will be sold on a 20-year USD-denominated power purchase agreement with Alunorte, one of the world’s leading suppliers of alumina for the aluminium industry. All three partners have an equal economic interest of 33.3% in the project and will jointly provide engineering, procurement and construction services. Operation and maintenance as well as asset management services to the power plant will be provided by Scatec and Equinor. Mendubim is Equinor’s second large scale solar project in Brazil, following the 162 MW Apodi solar plant that was put in operation in 2018 in partnership with Scatec.
Equinor has made final investment decision on the 531 MW Mendubim solar projects in Brazil. Mendubim is developed as a joint venture between Scatec, Hydro Rein and Equinor, and is located in the state of Rio Grande do Norte. Total project capital expenditure is estimated to be around USD 430 million. The asset will be funded by a combination of project financing and equity contribution from partners. Around 60% of the produced power will be sold on a 20-year USD-denominated power purchase agreement with Alunorte, one of the world’s leading suppliers of alumina for the aluminium industry. All three partners have an equal economic interest of 33.3% in the project and will jointly provide engineering, procurement and construction services. Operation and maintenance as well as asset management services to the power plant will be provided by Scatec and Equinor. Mendubim is Equinor’s second large scale solar project in Brazil, following the 162 MW Apodi solar plant that was put in operation in 2018 in partnership with Scatec.
