Enerside, a Spain-based vertically integrated solar company, announced the sale of two Brazilian distributed-generation solar projects totaling 5 MW (6.6 MWp) to IVI ENERGIA, a Brazilian energy company owned by investment fund Brookfield Renovables.
IVI ENERGIA acquired the projects at R$20.8 million (~$3.77 million), approximately €1.3 million/MW (~$235,936/MW) for the project in operation and €100,000/MW (~$18,148.9/MW) for the ready-to-build project.
The sale comprises phase 1 of the project, which is already in operation, and an extension of phase 2, which is set to begin construction. According to Enerside, once operational, the projects will produce up to 13.6 GWh of clean electricity annually.
“We are very satisfied with this transaction because, on the one hand, it has been carried out at a time of clear recovery in the price of energy in Brazil and on the other hand, because it is a transaction carried out from start to finish by our team in Brazil with support from Spain, in one of the main renewable energy markets worldwide,” explains Enerside’s CEO, Joatham Grange.
Brazilian industrial group Raízen signed a lease contract with Enerside under which it will receive renewable energy produced by the project. The facility sold will supply the company up to 7.7 GWh per year for 15 years.
According to Mercom’s 1H and Q2 2024 Solar Funding and M&A report, 113 solar project acquisitions totaling 18.5 GW were announced in 1H 2024 compared to 116 project acquisitions totaling 25.5 GW in 1H 2023.
Last week, ContourGlobal, an independent power producer and a KKR company announced the acquisition of a 151 MW solar project portfolio in South Carolina from Sun Tribe Development, a solar and energy storage project developer. The portfolio comprises two solar projects currently in the late stages of development, and long-term power purchase agreements have been signed.
