Voltalia has sold a 33% stake in the under construction 320MW SSM1&2 solar farm in Brazil to investment fund STOA for an undisclosed price.
STOA has become a 33% shareholder in the company that owns the SSM1&2, which is scheduled to come on stream in the first half of 2022.
SSM1&2, which is is part of the Serra Branca wind and solar cluster, is backed by five power sales contracts with an average duration of 16 years.
It has been developed by Voltalia and located in the Brazilian state of Rio Grande do Norte.
Serra Branca has a potential capacity of 2.4GW.
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 acquired a 33% stake in the 152MW VSM3 wind farm, which is backed by a 20-year power sales contract with CEMIG, a Brazilian state-owned electricity company.
STOA chief executive Marie-Laure Mazaud said: “The consolidation of our partnership with Voltalia on SSM1&2 solar plant confirms the relevance of STOA’s investment thesis: providing long-term equity stakes at asset level to our industrial partners and supporting them on all project’s phases.”
Voltalia chief executive Sebastien Clerc said: “We are pleased to conclude this second partnership with STOA. It illustrates our model of working with long-term partners on the power plants developed, built and operated by Voltalia.”