Nebras Power forms JV in Brazil to take care of over 13 GW of solar, hydro
- Qatar-based Nebras Power Investment Management BV (NPIM) has formed a joint venture (JV) with Brazilian power investment Companhia Energetica Integrada (CEI), to operate and manage over 13 GW of mainly solar projects in Brazil.
The joint operation and management (O&M) portfolio also includes 18 hydropower plants (HPPs), with an installed capacity of 72 MW, NPIM's parent Nebras Power QPSC, announced on Wednesday.
The partners are establishing a new service company, named BEI, tasking it to provide operation, maintenance and engineering for power plants.
According to Nebras Power, the JV will go beyond O&M. Its plan is to drive growth through acquisitions of operating assets and the development and construction of greenfield projects, the Qatari investor said.
"What we are witnessing is a new milestone for Nebras. This co-venture is a culmination of hard work and strategic planning and will leverage our talent and experience to develop and oversee a wealth of sustainable energy projects. Furthermore, it will considerably expand Nebras's reach within Brazil and will strengthen our portfolio and regional ambitions in Latin America," said Nebras's CEO Khalid Mohammed Jolo.
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