Voltalia offloads stake in 320MW Brazilian solar

• Investment fund STOA has actually purchased a 33% interest in the SSM1 & 2 project in Rio Grande do Norte

Voltalia has marketed a 33% stake in the under construction 320MW SSM1 & 2 solar farm in Brazil to investment fund STOA for an undisclosed price.

STOA has come to be a 33% shareholder in the company that owns the SSM1 & 2, which is arranged to come on stream in the initial half of 2022.

SSM1 & 2, which is becomes part of the Serra Branca wind and solar cluster, is backed by 5 power sales agreements with a typical duration of 16 years.

It has actually been created by Voltalia and situated in the Brazilian state of Rio Grande do Norte.

Serra Branca has a possible capacity of 2.4 GW.

Voltalia is the controlling shareholder of a considerable part of the projects situated in the region, with the other projects unloaded to partners.

In September 2020, STOA acquired a 33% stake in the 152MW VSM3 wind farm, which is backed by a 20-year power sales agreement with CEMIG, a Brazilian state-owned electricity firm.

STOA chief executive Marie-Laure Mazaud claimed: "The consolidation of our partnership with Voltalia on SSM1 & 2 solar plant confirms the relevance of STOA's investment thesis: providing lasting equity stakes at asset level to our industrial partners as well as supporting them on all project's phases."

Voltalia president Sebastien Clerc stated: "We are pleased in conclusion this 2nd partnership with STOA. It illustrates our model of working with long-term partners on the power plants created, built and also operated by Voltalia."