Voltalia offloads minority stake in 320 MW Solar Serra do Mel 1&2 in Rio Grande do Norte

STOA, an investment fund specializing in infrastructure projects in developing and emerging countries, and Voltalia have announced that STOA is acquiring a 33% equity stake in the 320 MW SSM1&2 solar plant in Brazil. The Voltalia's project is currently under construction and scheduled to be operational in the first half of 2022. SSM1&2 plant is backed by five power sales contracts with an average duration of 16 years.

SSM1&2 is part of the Serra Branca cluster. Located in the Rio Grande do Norte, Serra Branca is the world's largest wind and solar cluster with a potential capacity of 2.4 GW. Voltalia is the controlling shareholder of a significant part of the projects located in the region, with the other projects divested to partners.

In September 2020, STOA had already acquired a 33% stake in VSM3 (Ventos Serra do Mel III), a 152 MW wind power plant backed by a 20-year power sales contract with CEMIG.