VH Global deploys USD 22m to fund more solar in Brazil
Small solar system in Brazil. Author: Tony Winston/Agência Brasília.
VH Global Sustainable Energy Opportunities Plc (LON:GSEO) recently announced the deployment of a further USD 22 million (EUR 19.4m) as part of its original commitment to fund the construction of 75 MW of remote solar parks in Brazil.
The UK investment company said in a statement that in this third tranche it has acquired and is funding up to four projects totalling 28 MW.
To date, VH Global has deployed a total of USD 50 million out of its USD-63-million commitment and expects to spend the remaining USD 13 million by the first quarter of 2022.
A total of 18 projects will benefit from the overall financing. These will operate under 20-year contracts and will supply power to “creditworthy commercial and industrial energy users, as well as large multinational corporations with operations in Brazil.”