Norwegian developer Scatec Solar has agreed to buy four photovoltaic projects in Brazil with 150MW in total capacity.
The company said it will build the projects, acquired from local company Kroma Energia, for about $212m. They are expected to be completed by the end of 2018.
The projects, which are located in the state of Ceará, benefit from 20-year power purchase agreements with ANEEL, Brazil’s electricity regulator.
“With these projects, we are securing a strong foothold in Brazil, a large and growing solar market,” Scatec Solar chief executive Raymond Carlsen said.
“We see positive developments in the Brazilian economy and continued government support for renewables.”
Image: Scatec
