Norsk Solar has made an investment decision for the construction of three solar photovoltaic (PV) plants with a capacity of 9 MW in Brazil.
The project is situated in Minas Gerais in Brazil. It is the second of three planned projects where Norsk Solar is acting as the sole IPP, and where the company is responsible for development, financing, and construction. The project is set for a 25-year tenor and will secure recurring revenue for 25 years, under the terms of the power purchase agreement (PPA) with corporate off-taker Órigo Energia.
The project has yet to obtain approvals connected to a minor adjustment of the connection layout to initiate the execution of the project, however, the company is positive that this will be resolved within a short time.
