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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.com (mailto:andreas.austrell@scatec.com)
(mailto:andreas.austrell@scatec.com)For media: Meera Bhatia, SVP Communications
& Government Affairs, phone: +47 468 44 959, meera.bhatia@scatec.com
(mailto: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
(https://scatec.com/) or connect with us on LinkedIn
(Scatec ASA | 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
(https://scatec.com/2023/03/23/mendubim-solar-project-contributing-to-brazils-
clean-energy-frontrunner-position/)
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act
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