Industrial and medical gases firm White Martins has signed a joint venture partnership with Brazilian natural gas and power company Eneva SA (B3:ENEV3) related to the 671-MW Futura 1 Solar complex in Bahia state.
The partnership includes the three SPEs – Futura 1, 3 and 4 – all part of the Futura 1 Solar complex. The output produced will be consumed by White Martins in its production units.
Under the agreement, Eneva will be entitled to roughly BRL 2.28 billion (USD 456.83m/EUR 416.85m), to be received between 2023 and 2035, referring to the sale of 100.6 average megawatts (MWa) during the 12-year period.
With this new deal, four of the six SPEs in the Futura 1 complex now have self-production sales contracts.
Acquired from Brazilian energy company Focus Energia in March 2022, the solar complex is currently undergoing an operational testing phase. The acquisition added also a pipeline of two additional licensed solar projects, Futura II and Futura III, capable of adding 2.3 GW to the complex.
(BRL 1 = USD 0.200/EUR 0.182)