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Norsk Solar: Announces Investment Decision for Origo-I (18 MW) in Brazil

  • Sector: Energy
  • Date: July 28, 2022

  • Company: Norsk Renewables develops and invests in renewable energy in emerging markets.

The Nordic Impact Cooperation AS (“NIC”), an investment company jointly owned by Norsk Solar, Norfund and Finnfund, has made a positive investment decision for the construction of six solar PV plants with a capacity of 18 MW in Brazil.

The plants are part of the previously announced 37 MW development agreement signed with corporate offtaker Órigo Energia, a renewable energy pioneer in Brazil whose shareholders include TPG ART, Mitsui and the Brazilian impact investment fund manager MOV.  Long-term power purchase agreements with 25-year tenor are signed for 24 of the 37 MW in the development agreement.

Norsk Solar is pleased with today’s investment decision, and we are eager to move forward with construction of the first power plants in the Órigo Energia development agreement along with our partners, said Øyvind L. Vesterdal, CEO of Norsk Solar. There is no time to waste in meeting Brazil’s soaring energy demand with reliable, affordable and clean power, Vesterdal concludes.