STOA acquired a 33% stake in the Solar Serra do Mel 1 and Solar Serra do Mel 2 solar plants in Brazil from Voltalia for an undisclosed amount.

(MegaWhat) Voltalia signed an agreement to sell a minority stake in two solar parks under construction to Stoa, a French investment fund specializing in infrastructure projects. Stoa became the owner of 33% of the Solar Serra do Mel 1 and Solar Serra do Mel 2 plants, which will have 320 MW, in Rio Grande do Norte. Transaction amounts were not reported.

“This investment in the Solar Serra do Mel plant alongside our partner Voltalia is Stoa’s third in Brazil, since we started operating in the country at the end of 2018. It also confirms the attractiveness of Stoa’s offer for energy producers, like Voltalia, who are looking for long-term capital,” said Mathieu Lebègue, responsible for Stoa’s activities in Latin America.

When completed, the solar parks will be located between the municipalities of Areia Branca and Serra do Mel, where Voltalia has been developing the Serra Branca Cluster, a hybrid complex that already has six wind farms and has the potential to reach 2.4 GW. This partnership will be Voltalia’s second with the French investment fund, which already has 33% in the 152 MW Ventos Serra do Mel 3 wind farm, located in the same cluster.

“We are pleased to conclude this second partnership with Stoa. It illustrates our model of working with long-term partners in the power plants developed, built and operated by Voltalia,” said Sébastien Clerc, president of Voltalia.