Scatec, Hydro Rein and Equinor start commercial operations at Mendubim solar plant in Brazil
08 March 2024 - 11:00PM
Scatec, Hydro Rein and Equinor start commercial operations at
Mendubim solar plant in Brazil
Oslo, 8 March 2024 – Scatec ASA, a leading provider of renewable
energy solutions, together with its partners Hydro Rein (part of
Norsk Hydro ASA) and Equinor ASA is pleased to announce the supply
and production of electricity from the Mendubim solar plant in the
state of Rio Grande do Norte, Brazil. This marks a significant step
in advancing sustainable energy initiatives in one of the world's
largest energy-producing countries.
The 531-megawatt (MW) solar plant represents Scatec's second
venture in Brazil and is a collaborative effort with Norwegian
partners Equinor and Hydro Rein. The companies have secured a
20-year USD-denominated power purchase agreement (PPA) with
Alunorte, a leading global supplier of alumina for the aluminium
industry majority owned by Hydro ASA, covering approximately 60
percent of the anticipated power output. The remaining capacity
will be marketed in the Brazilian power market.
Scatec's CEO, Terje Pilskog, states, "The
Mendubim solar power plant marks a pivotal milestone in realising
our strategic objectives and reinforces our position in a prominent
renewable energy growth market, bolstered by our partners Equinor
and Hydro Rein. The burgeoning solar energy market in Brazil aligns
with our commitment to sustainable progress, and we are excited to
advance this impactful project with approximately 3 million tonnes
of carbon dioxide equivalents avoided”.
Scatec Brazil General Manager, Aleksander Skaare,
says, "I would like to thank our exceptional team for
their unwavering dedication and skill in navigating the
complexities of constructing a solar power plant. Your hard work
and resilience have truly powered our success in Brazil, and we are
excited to now deliver energy to power the equivalent of
approximately 600,000 households."
Hydro Rein’s CEO Olivier Girardot, says, “We
are thrilled to complete the first of Hydro Rein’s renewable energy
projects in Brazil. Our mission is to develop renewable energy
solutions for more sustainable industries, and Mendubim does just
that. Most of the power output will go to Hydro’s alumina refinery
Alunorte in Pará, supporting one of the largest decarbonization
projects in the world. We are very proud to take part in this
development together with Equinor and Scatec.”
Olav Kolbeinstveit, senior vice president for onshore
and markets within Renewables at Equinor says, “Launching
a major new solar plant in Brazil in partnership with Scatec and
Hydro Rein is an important achievement. Equinor has conducted
business in Brazil for over two decades, and we see the country as
a core area for long-term profitable growth. 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.”
Carlos Neves, vice president operations at Alunorte,
says, "We have a very robust roadmap to decarbonization to
produce green Alumina in Alunorte refinery which will bring us to
be one of the lowest carbon emitting refineries in the world by
2030 and reach zero emissions by 2040. With this project we
reinforce Hydro's commitment to deliver zero-carbon aluminium
products to customers, and Alunorte is an important enabler of the
overall ambition of net-zero carbon emissions by 2050.”
All three partners have an equal economic interest of 30% in the
project. In conjunction with the start of commercial
operations, Alunorte has exercised its call option and now holds
the remaining 10%.
For further information, please
contact: For analysts and investors: Andreas
Austrell, VP IR, phone: +47 974 38 686,
andreas.austrell@scatec.comFor media: Meera Bhatia, SVP
Communications & Government Affairs, phone: +47 468
44 959, meera.bhatia@scatec.com
About Scatec Scatec is a leading
renewable energy solutions provider, accelerating access to
reliable and affordable clean energy emerging markets. As a
long-term player, we develop, build, own, and operate renewable
energy plants, with 4.6 GW in operation and under construction
across four continents today. We are committed to grow our
renewable energy capacity, delivered by our passionate employees
and partners who are driven by a common vision of ‘Improving our
Future’. Scatec is headquartered in Oslo, Norway and listed on the
Oslo Stock Exchange under the ticker symbol ‘SCATC’. To learn
more, visit www.scatec.com or connect with us
on LinkedIn.
Notes to the editor: For more information
on the project, please see: Mendubim solar project contributing to
Brazil’s clean energy frontrunner position - Scatec
This information is subject to the disclosure requirements
pursuant to Section 5-12 the Norwegian Securities Trading Act
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