Hydro Rein, Atlas Renewable Energy and Albras are forming a joint venture to develop, build and operate a photovoltaic plant in the state of Minas Gerais.
Construction of the Boa Sorte complex, which will have an installed capacity of 438 MW, is scheduled to begin in the fourth quarter of 2022, and operations in the fourth quarter of 2023.
Total investments are estimated at US$320 million. Hydro Rein will have a 33,3% stake in the project, which was submitted to CADE (Administrative Council for Economic Defense) for approval.
Albras, as part of a self-production project, signed a power purchase agreement (PPA) for an annual supply of 815 GWh from 2025 to 2044. The agreement covers 12% of Albras' annual revenue and energy consumption.
The company's primary aluminum plant is located in Pará and is a joint venture between Hydro and NAAC (Nippon Amazon Aluminum Co. Ltd.).
With an annual production capacity of 460 thousand tons, the company is the largest producer of primary aluminum in Brazil.
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