Voltalia Sells Minority Stake in 320 MW Solar Project in Brazil To STOA
Mar 18, 2022
French renewable energy generator Voltalia SA has sold a 33 percent stake in the 320 MW solar Serra do Mel 12 (SSM12) photovoltaic (PV) project in Brazil to investment fund STOA.
No financial details of the deal were provided in Voltalia's press statement on Tuesday (March 15).
The SSM12 projects are part of the 2.4-GW Serra Branca wind and solar cluster, touted as the largest of its kind globally. Currently, the solar power plant is under construction in the state of Rio Grande do Norte and is scheduled to start operating in the first half of 2022.
SSM1 2 will operate under five outage deals with an average duration of 16 years.
STOA was founded by the Caisse des Depots and the French Development Agency (AFD), in partnership with Voltalia for the second time. In September 2020, the investment fund purchased a 33 percent stake in Voltalia's 152 MW Ventos Serra do Mel III (VSM3) wind farm, which is also part of the Serra Branca cluster.
Voltalia noted that it is the controlling shareholder in most projects within the cluster. So far, 1.2 gigawatts of capacity are in operation, 500 megawatts are under construction, and 700 megawatts are in development.