Exus Brasil Investimentos, a subsidiary of the investment firm Exus Management Partners, has signed a deal to acquire 100% of the Riacho da Serra Energia company and its 1.1 GW solar complex project in Brazil from independent power producer Decal Renewables and renewable energy company Upside Value. The project consists of 20 solar parks, located in the state of Piauí (northern Brazil), totalling 1,056 MW. The planned capacity has already been granted by ANEEL, Brazil’s electricity regulatory agency.
The development of the project will represent an investment of more than BRL3.5bn (US$650m) and power 950,000 homes with clean energy, while reducing approximately emissions by 1 MtCO2. The structuring of the project will be finalised in two phases, with the objective of achieving commercial operation in the second half of 2024.
In 2021, solar accounted for 7% of Brazil’s installed capacity with 13 GW, behind wind (11%, 21 GW) and hydropower (57%, 109 GW).