Voltalia markets minority stake in 320-MW Brazilian solar project to STOA
- French renewable power manufacturer Voltalia SA (EPA: VLTSA) has offloaded a 33% equity stake in the 320-MW Solar Serra do Mel 1 & 2 (SSM1 & 2) photovoltaic (PV) project in Brazil to mutual fund STOA.
Financial information regarding the purchase were not given in Voltalia's press statement on Tuesday.
The SSM1 & 2 project is part of the 2.4-GW Serra Branca wind and solar cluster, proclaimed as the biggest one of its kind around the world. Currently incomplete in the state of Rio Grande do Norte, the solar facility is slated to start procedures in the very first half of 2022.
SSM1 & 2 will operate under 5 power off-take deals with an average duration of 16 years.
STOA, established by Caisse des Depots and also Agence Francaise de Developpement (AFD), companions with Voltalia for the 2nd time. In September 2020, the mutual fund bought a 33% stake in Voltalia's 152-MW Ventos Serra do Mel III (VSM3) wind park, which is additionally part of the Serra Branca cluster.
Voltalia noted it is the managing investor of a considerable part of the projects within the cluster. So far, 1.2 GW of the capacity functions, 500 MW is under construction and also 700 MW under growth.