Report

Exus signs deal to acquire 1,058MW Brazilian solar project

The Riacho da Serra project, in Piauí, will have capacity to power 950,000 homes, delivering a BRL 3.5 billion investment and creating 2,500 jobs
Download report

SãoPaulo, Brazil,August 9, 2022 - Exus Brasil Investimentos, a subsidiary of Exus Management Partners (Exus), aleading expert in sustainable investments through operational excellence, has announced a deal to acquire 100% of the shares of Riacho da Serra Energia S.A.,and the project-related assets, from Decal Renewables and Upside Value, subject to regulatory approvals and other conditions precedent. 

Consisting of 20 solar parks situated in Piauí – the epicentre of Brazil’s highest radiation ‘solar belt’ – the project shall have a total installed capacity exceeding 1GW already granted by ANEEL, Brazil’s electricity regulatory agency.

The development will represent an investment of more than BRL 3.5 billion (USD $650 million) in the country, create around 2,500 direct and indirect jobs, bring development to the communities involved, power 950,000 homes with clean energy, while reducing approximately 1 million tonnes in CO2 emissions.

With interconnection also granted, and contracts for the use of the transmission system signed with national grid operator ONS, the cluster is fully licensed to commence construction.

The structuring of the project will be finalised in two phases, with the objective of achieving commercial operation by the second half of 2024.

Pedro Fragoso, Partner at Exus Brazil, said, “We are delighted to have secured a deal for a highly significant project in the context of Brazil’s energy mix. We are proud to not only be delivering green energy to almost one million homes, but also injecting investment into the country and local communities, creating thousands of new jobs, and significantly reducing CO2 emissions. Brazil has an astonishing abundance of renewable energy resource and opportunity, and we look forward to playing our part in both growing the domestic sector, as well as helping to drive the global journey to net zero.”

Matteo Fedeli, CEO at Decal Renewables, mentioned “It has been a pleasure working with the Exus’ team so far and we look forward to completing the transaction in the following months. We are proud to contributing towards the energy transition in the country and globally, despite the very challenging conditions affecting the industry.”

EnriqueSira, CEO at Upside Value, commented, “We are extremely pleased to have completed the development of “Riacho da Serra Fase 1”. Like the rest of projects in Upside's portfolio, “Riacho da Serra Fase 1” has been conceived to bring a large positive impact in terms of clean energy generation, CO2 mitigation and contribution to economic development and value creation. We wil lcontinue to develop high quality projects and partner with suitable investors and generators to play our part in the development of renewables infrastructure and in the transformation of power generation industry in Brazil and the countries where we operate.”

Finergreen acted as exclusive financial advisor to the sellers, while Tozzini Freire Advogados acted as legal counsel. Veirano Advogados acted as legal counsel to ExusInvestimentos

Download report

By clicking Submit you agree to Exus Partners processing your details in order to provide you the services requested. Please view our Privacy Policy for more information.
Thanks for submitting your details. You can view the report here:
View report
There was an error. Please ensure you have completed all the fields and try again.
News
Text Link
August 9, 2022

Exus signs deal to acquire 1,058MW Brazilian solar project

The Riacho da Serra project, in Piauí, will have capacity to power 950,000 homes, delivering a BRL 3.5 billion investment and creating 2,500 jobs

Exus signs deal to acquire 1,058MW Brazilian solar projectExus signs deal to acquire 1,058MW Brazilian solar project

SãoPaulo, Brazil,August 9, 2022 - Exus Brasil Investimentos, a subsidiary of Exus Management Partners (Exus), aleading expert in sustainable investments through operational excellence, has announced a deal to acquire 100% of the shares of Riacho da Serra Energia S.A.,and the project-related assets, from Decal Renewables and Upside Value, subject to regulatory approvals and other conditions precedent. 

Consisting of 20 solar parks situated in Piauí – the epicentre of Brazil’s highest radiation ‘solar belt’ – the project shall have a total installed capacity exceeding 1GW already granted by ANEEL, Brazil’s electricity regulatory agency.

The development will represent an investment of more than BRL 3.5 billion (USD $650 million) in the country, create around 2,500 direct and indirect jobs, bring development to the communities involved, power 950,000 homes with clean energy, while reducing approximately 1 million tonnes in CO2 emissions.

With interconnection also granted, and contracts for the use of the transmission system signed with national grid operator ONS, the cluster is fully licensed to commence construction.

The structuring of the project will be finalised in two phases, with the objective of achieving commercial operation by the second half of 2024.

Pedro Fragoso, Partner at Exus Brazil, said, “We are delighted to have secured a deal for a highly significant project in the context of Brazil’s energy mix. We are proud to not only be delivering green energy to almost one million homes, but also injecting investment into the country and local communities, creating thousands of new jobs, and significantly reducing CO2 emissions. Brazil has an astonishing abundance of renewable energy resource and opportunity, and we look forward to playing our part in both growing the domestic sector, as well as helping to drive the global journey to net zero.”

Matteo Fedeli, CEO at Decal Renewables, mentioned “It has been a pleasure working with the Exus’ team so far and we look forward to completing the transaction in the following months. We are proud to contributing towards the energy transition in the country and globally, despite the very challenging conditions affecting the industry.”

EnriqueSira, CEO at Upside Value, commented, “We are extremely pleased to have completed the development of “Riacho da Serra Fase 1”. Like the rest of projects in Upside's portfolio, “Riacho da Serra Fase 1” has been conceived to bring a large positive impact in terms of clean energy generation, CO2 mitigation and contribution to economic development and value creation. We wil lcontinue to develop high quality projects and partner with suitable investors and generators to play our part in the development of renewables infrastructure and in the transformation of power generation industry in Brazil and the countries where we operate.”

Finergreen acted as exclusive financial advisor to the sellers, while Tozzini Freire Advogados acted as legal counsel. Veirano Advogados acted as legal counsel to ExusInvestimentos

More News
Exus announces its first renewables fund

Exus Partners Energy Fund, ‘EPEF I’ will target strategic stakes and assets across Iberia and Europe

filter-pressreleases
Exus management partners hits 10GW of assets under management

Global milestone reached after onboarding 1.7GW across North America, Europe, and Brazil in 2022

filter-pressreleases
Exus signs strategic solar deal in Mexico

Exus appointed as renewable investment and O&M expert to deliver full suite of services at two solar farms in state of Chihuahua, Mexico

filter-pressreleases
Exus Expands Partnership with Vitol

Exus Management Partners is partnering with commodities trader Vitol to manage three wind farms, totalling 244MW, in the US state of Pennsylvania.

filter-pressreleases
Exus expands CIP partnership

Copenhagen Infrastructure Partners awards Exus 750MW solar asset management deal. Exus will provide a full suite of asset management services at three solar farms in Texas and Utah.

filter-pressreleases
Exus’ Luis Adao da Fonseca ranked 89th in A Word About Wind’s 2022 European Power List

Exus Co-Founder, Luis Adao da Fonseca, has been named as the 89th most influential person in A Word About Wind’s 2022 European Power List – showcasing the Top 100 people in the European wind sector.

filter-pressreleases
Fonte Figueira Solar Project

Madrid, 12th January 2022 – Exus Management Partners (Exus), a leading expert in powering sustainable investments through operational excellence, has completed and connected the Fonte Figueira solar plant to the Portuguese grid following a significant shift in government policy regarding grid connections.

filter-pressreleases
Exus opens up Turkish base

Exus Management Partners (Exus), an expert in powering sustainable investments through operational excellence, has continued its global expansion by announcing a new office in Istanbul.

filter-pressreleases
Exus wins repowering contract for 240MW Big Sky Wind Farm in Illinois

Exus selected by Vitol to deliver full asset management services, driving a 60% increase in annual energy output.

filter-pressreleases
EU Emissions Fall By a Third Since 1990 as Renewables Grow

In 2020, the main energy source for the EU was renewables, overtaking fossil fuels for the first time in history – according to the annual State of the Energy Union report by the European Commission.

filter-articles
Exus to advise on 473 MW Spanish solar portfolio development

Exus is to oversee project development and asset management across all of Glennmont’s sites, bringing the company’s construction and development portfolio to 3 GW.

filter-pressreleases
Exus closes sale of 11 Spanish wind farms from Corporacion Masaveu to China Three Gorges

Exus Management Partners has facilitated the financial close of the sale of a 450MW portfolio, owned in partnership by Spanish family office Corporation Masaveu (Masaveu) and Belgian investors Korys, to Chinese clean energy developer China Three Gorges Europe (CTGE).

filter-pressreleases
Exus to manage 221MW Portuguese wind portfolio

We’re delighted to have advised @Onex Renewables on the acquisition of a 221MW Portuguese wind portfolio from @EDP Renewables, and to be appointed asset manager across the sites.

filter-pressreleases
US Offshore wind

How can the US build out the electric grid and cabling to support the quick growth of offshore wind?

filter-articles
Renewable energy production up in US

Renewable energy production continues to grow in the US

filter-articles
Exus chosen to manage Travers Solar in Canada

Exus chosen by CIP to deliver full asset management services for Canada’s largest solar farm.

filter-pressreleases
Wind Investment Awards

We are delighted to announce that Exus has been confirmed as a nominee at this year’s Wind Investment Awards.

filter-pressreleases
Exus to deliver 85MW Portugal wind-PV hybrid

Exus has been chosen to provide end-to-end delivery of Portugal’s first third-party wind and solar hybrid development, including project location, permitting, plant design, EPC negotiation, construction management, commissioning, asset management and PPA contracting.

filter-pressreleases
Gearing Up for Global Growth

View from Carlos Tello Garcia, COO

filter-articles
Website relaunch

After several months of hard work and careful consideration we recently announced the relaunch of our website, with a new look and a range of additional features.

filter-pressreleases
Exus hits 1.8GW of assets under management in North America

150MW Rattlesnake wind farm acquisition enables renewables asset manager to complete a vast expansion of the North American operational portfolio in the space of 15 months.

filter-pressreleases