Exus Brasil Investimentos has purchased a 100% stake in Riacho da Serra Energia, previously owned by Decal Renewables and Upside Value. The project developer is responsible for the Riacho da Serra solar power plant in Piauí, Brazil.
The 1.058GW project will be built in two phases, with start-up anticipated for the second half of 2024 and required investment calculated at R$3.5bn (US$650m).
Riacho da Serra has already secured all regulatory licences to start construction. It is expected to generate about 2,500 jobs and provide power supply to 950,000 homes (reducing carbon emissions by one million tonnes).
Riacho da Serra Energia’s portfolio is entirely composed by assets in the state of Piauí, the centre of Brazil’s high-radiation zone.
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