Hydro Rein, GIG to establish solar-wind hybrid in Brazil
- Norwegian renewables programmer Hydro Rein and also Macquarie's Green Investment Group (GIG) are to collaborate on a hybrid solar-wind project in Brazil.
Growth of the hybrid project is to begin with a very first stage of 456MW of wind power, with an alternative to include 130MW of solar PV during a 2nd stage.
The hybrid project is prepared for the states of Piauí and also Pernambuco, in the northeast of Brazil.
Long-lasting power acquisition arrangements have been signed with Hydro's bauxite mine Paragominas and its alumina refinery Alunorte which would reduce Hydro's use of coal and its scheduled eliminate by 2030.
Final investment choice for the wind farm is expected by Q4 2022, with the solar PV project at a later phase. It's expected the completed project would cost around US$ 700 million to finish.
As soon as finished, Hydro Rein would certainly maintain 49.9% of the project, while the staying 50.1% would certainly be held by GIG's Renewable Energy Fund 2.
"We are extremely delighted to play a part in establishing more renewable energy in Brazil together with Green Investment Group. This project is a crucial milestone in the efforts to decarbonize Alunorte and also an essential turning point for Hydro Rein establishing its profile of Brazilian assets," claimed Olivier Girardot, head of Hydro Rein.
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