Norsk Solar announced that the board of directors has made an investment decision for the construction of three solar PV plants with a capacity of 9 MW in Brazil. The plants are part of the previously announced 37 MW development agreement signed with corporate off-taker Órigo Energia. The project has yet to obtain approvals connected to a minor adjustment of the connection layout to initiate the execution of the project, however, the company is positive that this will be resolved within a short time.

The project is situated in Minas Gerais in Brazil and has a capacity of 9 MW. It is the second of three planned projects where Norsk Solar is acting as the sole IPP, and where the company is responsible for development, financing and construction. The project is set for a 25-year tenor and will secure recurring revenue for 25 years, under the terms of the power purchase agreement (PPA) with corporate off-taker Órigo Energia.

The decision to invest in Origo II is the result of a comprehensive evaluation process, which included a meticulous analysis of the project`s financial viability, market demand and alignment with its corporate strategy. Extensive due diligence was conducted to ensure the project`s technical feasibility, regulatory compliance, and sustainable impact on the environment.