- Nebras Power and CEI have announced a joint venture agreement for 13 GW solar PV in Brazil
- It will operate and manage this capacity along with 18 hydroelectric facilities
- A service company BEI will also be established to provide operation, maintenance and engineering services for the facilities
- They also plan to acquire operating assets and construct greenfield projects under the joint venture
Qatar based global investment company Nebras Power’s affiliate Nebras Power Investment Management B.V. (NPIM) is investing in renewables space of Brazil under a joint venture partnership with Brazilian power investment company called Companhia Energética Integrada (CEI Energética).
The new entity will operate and manage more than 13 GW of solar PV projects along with 72 MW of 18 hydroelectric facilities in the country. The duo also plan to establish a service company called BEI that will provide operation, maintenance and engineering services for the facilities in the portfolio.
In a joint statement released, the project partners said they will also acquire operating assets and also develop and construct greenfield projects, in addition to continuing existing operations and projects.
For Nebras Power, the investment in Brazil aligns with its business of identifying and investing in profitable and vibrant opportunities in both developed and emerging markets. The company said it would expand its reach within Brazil and strengthen its regional ambitions in Latin America.
In April 2019, Nebras Power signed an agreement with Canadian Solar to acquire 482 MW Brazilian solar portfolio (see Canadian Solar To Sell 80% Stake In Bifacial Projects).