Vinci Partners, Grupo Electra unit to add over 600 MW of renewables in Brazil

Wind park. Author: Santi VillamarĂ­n. License: Creative Commons, Attribution-NoDerivs 2.0 Generic.

November 23 (Renewables Now) - Vinci Partners Investments Ltd (NASDAQ:VINP) has entered into a partnership with Brazilian renewable energy firm Gradiente Energias Renovaveis SA to invest some BRL 2.5 billion (USD 451m/EUR 398m) in the development of wind and solar energy projects in Brazil.

According to a statement quoted by Reuters, the projects concern the construction of a roughly 500-MWp solar power complex in Bahia state and a 120-MW wind farm in Rio Grande do Sul. Both assets will be developed by Gradiente, which is part of local energy firm Grupo Electra.

With two distinct phases, the solar project will require the majority of investments of around BRL 1.7 billion. Construction is set to start in the first half of 2022, while commercial operations are scheduled for the second half of 2023. The wind project should break ground in 2024, Reuters said.

Vinci Partners is entering this partnership through its Brazilian alternative investment platform of the same name.

(BRL 1.0 = USD 0.181/EUR 0.159)

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