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EDP Brazil to sell 198 MW Mascarenhas hydropower plant
- 2 years ago (2022-09-02)
- David Flin
EDP Brazil has agreed to sell its 198 MW Mascarenhas hydropower plant to Victory Hill Global Sustainable Energy Opportunities (GSEO) of the UK for $235 million. The plant is a run-of-river facility located in the Brazilian state of Espírito Santo and has been operational since 1974. Completion of the deal is subject to the customary regulatory approvals.
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Mascarenhas has long-term PPAs with local utilities, which generate over 60 per cent of its revenues. Its sale is part of a strategy by EDP Brazil’s parent company, EDP , to increase its investments in solar power generation.
GSEO said that it expects the Mascarenhas facility to provide: “strong and sustainable” cashflow, and that it has a useful life estimated at 45 years.