Lyon Capital negotiating 30-MW solar project investment in Brazil - report

Solar panels by iamme ubeyou.

February 22 (Renewables Now) - Management company Lyon Capital is in advanced negotiations for the acquisition of the 30-MW Inhare I solar project from financial consultancy Hichens Harrison, Reuters reported on Thursday.

The photovoltaic (PV) scheme, located in Rio Grande do Norte state, requires an investment of around BRL 130 million (USD 34.6m/EUR 30.5m). The transaction will need an endorsement from the national  power sector regulator Aneel, as the implementation authorisation was revoked due to construction delays.

Hichens Harrison's regulatory advisor, Luiz Antony, told Reuters that the project could break ground in 90 days after it receives the go-ahead from Aneel. The project was secured back in 2014 through a reserve energy auction with an original deadline for operations scheduled for 2017.

Prior to these talks, Hichens has been negotiating the transaction with a Swiss fund, but has decided that the project has better chances of securing Aneel's clearance with Lyon Capital as an investor, according to the report.

(BRL 1 = USD 0.27/EUR 0.24)

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Lucas is based in Brazil. He joined Renewables Now to expand coverage of the Ibero-American market, a highly attractive destination for green energy investment.

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