Equinor, a Norwegian energy company, has made a final investment decision on the 531 MW Mendubim solar project in Brazil. Mendubim, a joint venture project between Scatec, Hydro Rein, and Equinor, is situated in Rio Grande do Norte. The project will generate about 1.2 TWh of energy annually, which is enough to power 620,000 Brazilian houses. Additionally, the development phase is expected to create more than 1,000 direct and indirect jobs. The project will receive engineering, procurement, and construction services from the three partners, each holding a 33.3 per cent share in it.
In addition to providing operation and maintenance services for the solar installation, Scatec and Equinor have agreed to provide asset management services. An estimated $430 million in capital investments, composed of both project funding and equity contributions from all partners, will be used to build the project. The solar farm will produce clean energy, 60 per cent of which will be sold to Alunorte under a 20-year power purchase agreement (PPA) and 40 per cent of which will be sold on the Brazilian power market. Hydro Energia and Equinor’s energy trading company, Danske Commodities, are expected to offer the power trading services.
In November 2022, Equinor and Offshore Renewable Energy Catapult partnered to address some of the most significant issues confronting the UK’s offshore renewables industry. The new partnership would build on the two organisations’ previous collaborations.