Spanish integrated solar PV platform, Enerside Energy, has finalized an agreement to sell its operational distributed generation (DG) solar farm, Itabira, in Brazil to investment fund manager Suno Asset for more than EUR 3 million ($3.3 million).
The 3.1 MWp solar farm operates under a ten-year power purchase agreement (PPA) indexed to inflation with an undisclosed energy trader in Brazil.
Enerside Energy developed and financed the Itabira project independently and has additional DG schemes in its pipeline. These upcoming projects are anticipated to reach the ready-to-build status in 2024 and 2025.
The sale of the Itabira solar farm is the initial phase of Enerside's asset rotation plan, unveiled in October 2023. The company aims to generate proceeds exceeding EUR 50 million through binding offers and advanced transactions expected to materialize in the coming months.
