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Hydro Rein And GIG Form JV For 586MW Wind-Solar Hybrid Project In Brazil
- 06 Jun 2022
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).
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