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    Hydro Rein And GIG Form JV For 586MW Wind-Solar Hybrid Project In Brazil


    June 6, 2022 - Fitch Solutions Sector Intelligence

     

      THIS COMMENTARY IS PUBLISHED BY FITCH SOLUTIONS COUNTRY RISK & INDUSTRY RESEARCH and is NOT a comment on Fitch Ratings' Credit Ratings. Any comments or data are solely derived from Fitch Solutions Country Risk & Industry Research and independent sources. Fitch Ratings analysts do not share data or information with Fitch Solutions Country Risk & Industry Research.

      Hydro Rein And GIG Form JV For 586MW Wind-Solar Hybrid Project In Brazil

      • 06 Jun 2022
      • Brazil
      • Infrastructure

      News: Norsk Hydro's renewable energy unit, Hydro Rein, has agreed to form a joint venture (JV) with Macquarie Group's Green Investment Group (GIG) to build and operate the 586MW Feijao wind and solar hybrid project in the Brazilian states of Piaui and Pernambuco. The hybrid facility would feature a 456MW wind farm as part of first phase, with the option to develop around 130MW solar portion in the second phase. The wind portion is estimated to cost USD700mn. Hydro Rein will own a 49.9% stake in the project, while the Macquarie Green Investment Group Renewable Energy Fund 2 would own the remaining 50.1%. A final investment decision for the wind farm is expected in Q422 (Renewables Now).

      This report from Fitch Solutions Country Risk & Industry Research is a product of Fitch Solutions Group Ltd, UK Company registration number 08789939 ('FSG'). FSG is an affiliate of Fitch Ratings Inc. ('Fitch Ratings'). FSG is solely responsible for the content of this report, without any input from Fitch Ratings.

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