STOA, an investment fund specialized in infrastructure projects in developing and emerging countries and Voltalia (Euronext Paris, ISIN code: FR0011995588), an international player in renewable energies, announce today STOA is acquiring a 33% equity stake in the SSM1&2 solar plant, Voltalia’s 320 megawatt solar power plant in Brazil.
STOA has become a 33% shareholder in the company that owns the SSM1&2 (Solar Serra do Mel 1&2) project, a 320 megawatt solar power plant currently under construction and scheduled to come on stream in the first half of 2022. SSM1&2 is backed by five power sales contracts with an average duration of 16 years.
SSM1&2 is part of the Serra Branca cluster. Entirely developed by Voltalia and located in the Brazilian state of Rio Grande do Norte, Serra Branca is the world’s largest wind and solar cluster with a potential capacity of 2.4 gigawatts. Voltalia is the controlling shareholder of a significant part of the projects located in the region, with the other projects divested to partners. In September 2020, STOA had already acquired a 33% stake in VSM3 (Ventos Serra do Mel III), a 152 megawatt wind power plant backed by a 20-year power sales contract with CEMIG, a Brazilian state-owned electricity company.
In any case, Voltalia provides all or part of the services associated with the development, construction and maintenance of the divested or retained plants, with 1.2 gigawatt of operating assets as well as 500 megawatts under construction and 700 megawatts under development.
STOA is an investment fund dedicated to infrastructure projects in emerging countries. It was created by Caisse des Dépôts and Agence Française de Développement (AFD).
Since STOA started operating in the region late 2018, the investment into SSM1&2 is STOA’s third investment in Brazil (after the acquisition in 2020 of minority stakes in VSM3 wind farm and São Paulo’s Metro Line 6 project) and STOA’s fourth investment in Latin America (after the investment into a wind farm in Domican Republic this year).
”The consolidation of our partnership with Voltalia on SSM1&2 solar plant confirms the relevance of STOA’s investment thesis: providing long-term equity stakes at asset level to our industrial partners and supporting them on all project’s phases”, told Marie-Laure Mazaud, CEO of STOA.
“We are pleased to conclude this second partnership with STOA. It illustrates our model of working with long-term partners on the power plants developed, built and operated by Voltalia,” said Sébastien Clerc, CEO of Voltalia.
Next on the agenda: 2021 Full Year results , March 24, 2022 (before market opening)
STOA is a joint stock company (société anonyme) with an initial share capital of €240 million, 83.3% owned by Caisse des Dépôts (“CDC”) and 16.7% owned by Agence Française de Développement (“AFD”), the object of which is to invest up to €600 million in equity and quasi equity in the infrastructure and power sectors of developing and emerging countries. STOA benefits from the complementary support and expertise of its two shareholders. Caisse des Dépôts is a public long-term investor serving the general interest and economic development of local areas; AFD is the French Public Development Bank which commits to financing projects in key transition sectors in developing and emerging countries. In the context of their joint strategy, these two institutions are fully committed to play a key role in the four major transitions, the energy/environmental, digital, territorial and demographic transitions.
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Voltalia is an international player in the renewable energy sector. The Group produces and sells electricity generated from wind, solar, hydraulic, biomass and storage facilities that it owns and operates. Voltalia has generating capacity in operation and under construction of more than 1.7 GW and a portfolio of projects under development representing total capacity of 10.7 GW.
Voltalia is also a service provider and supports its investor clients in renewable energy projects during all phases, from design to operation and maintenance.
As a pioneer in the corporate market, Voltalia provides a global offer to private companies, ranging from the supply of green electricity and energy efficiency services to the local production of their own electricity.
The Group has more than 1,280 employees and is present in 20 countries on 3 continents and is able to act worldwide on behalf of its clients.
Voltalia is listed on the regulated market of Euronext Paris, compartment B (FR0011995588 – VLTSA) and is part of the Enternext Tech 40 and CAC Mid & Small indices. The Group is also included in the Gaïa-Index, an index for socially responsible midcaps.
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