SOWITEC Group, a developer of renewable energy projects in the wind and solar sector, has sold a 400 MW solar PV project in Brazil to an unnamed international energy supply group.
Financial details about the deal were not available.
The 400 MW solar project is under development in the Alagoas state of northeastern Brazil. The project is expected to become operational in the coming years, Sowitec said in a press statement, without giving further information.
Through SOWITEC do Brasil, the German firm SOWITEC Group has been active in Brazil since 2022 and currently has over 12 GW of projects in its portfolio. The company currently has more than 3.1 GW of wind and solar parks in operation and under construction globally, of which more than 1 GW are located in Brazil.
SOWITEC is a renewable energy project developer, active in 14 countries, and is covering all solar and wind power project development areas from planning, conception, and financing to commercial wind and solar projects. According to Mercom Research, earlier in January 2019, SOWITEC Group has sold a 200 MW solar PV project in Brazil, Pernambuco, through its local subsidiary Sowitec do Brasil to an unnamed European energy supplier.
Project acquisition activity was at a record high in Q2 2021, with over 24 GW of solar projects acquired compared to 14.6 GW in Q1 2021, according to the recently released Mercom’s Solar Funding and M&A Report. US petroleum distributor Buckeye Partners recently acquired a 270 MW construction-ready solar project – Project Parker, from OCI Solar Power. OCI Solar Power develops, constructs, finances, owns and operates utility-scale and distributed generation solar projects in the US. Buckeye plans to start project design and construction later this year.