Production to start at Equinor’s Mendubim solar plant

“Mendubim represents an important contribution to Equinor’s diversified energy offering in Brazil that includes a robust oil and gas portfolio and an attractive renewables position,” said Veronica Coelho, Equinor’s country manager in Brazil.

Mendubim will annually produce 1.2 TWh of power. Around 60% of the power will be sold on a 20-year USD-denominated power purchase agreement (PPA) with Alunorte, one of the world’s leading suppliers of alumina for the aluminium industry.

The remaining production will be sold in the power market in Brazil. The asset is expected to deliver real base project returns in the middle of Equinor’s guided range for renewables of 4-8%.

The project is developed and operated as a joint venture between Scatec, Hydro Rein and Equinor. 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%.

“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,” said Olav Kolbeinstveit, Senior Vice President for onshore and markets with Renewables at Equinor.

For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.

Energy Global's Winter 2023 issue

The Winter 2023 issue of Energy Global hosts an array of technical articles weather analysis, geothermal solutions, energy storage technology, and more. This issue also features a regional report looking at the future of renewables in North America, and a report from Théodore Reed-Martin, Editorial Assistant, Energy Global, on how Iceland utilises its unique geology for renewable energy.

Read the article online at: https://www.energyglobal.com/solar/11032024/production-to-start-at-equinors-mendubim-solar-plant/