VH Global Sustainable Energy Opportunities, the investment company advised by Victory Hill Capital Advisors, has acquired the Mascarenhas Hydro Electric Facility in the state of Espírito Santo, Brazil.
The acquisition of the hydro facility adheres to the Company’s renewable power enablement strategy for Brazil.
Brazil is one of the largest hydro power markets in the world.
The energy regulator in Brazil ranks over 140 hydro plants across the country, based on a number of factors to assess their quality and operation.
The Mascarenhas facility has been consistently ranked as a top 10 hydro plant in the country.
Victory Hill co-chief investment officer, investment adviser to VH Global, Eduardo Monteiro said: “The acquisition of Mascarenhas marks our first investment in hydro power and provides us with a highly reliable source of power generation backed by long term secure PPAs.
“The preconditions to enabling more penetration of wind and solar power capacity in the Brazilian energy mix are well established and strongly underpinned by government policies and the significant contribution of hydro power.
“Hydro power generation is one of the oldest and most proven power generation sources, complementing more intermittent renewable sources such as wind and solar and ultimately facilitates the presence of such energy sources in the energy mix.
“We look forward to working with the Company’s new operating partners to maximise the contribution of this asset to the portfolio.”