VH Global boosts cash balance with Brazilian solar PV sale – Mining.com.au

London-based investment firm VH Global Energy Infrastructure (LSE:ENRG) has entered into an agreement for the sale of six operational solar photovoltaic (PV) assets in Brazil.
The solar PV assets, located in the Rio de Janeiro state, have a total installed capacity of 11.7 megawatts per hour.
Under the agreement, Energea Portfolio 2 LP will pay £5.4 million ($10.14 million) to VH Global Energy for the assets.
These assets form part of the VH Global’s entire Brazilian solar PV portfolio, comprising 13 operational assets and three ready-to-build assets. The remaining seven operational assets, contracted with Telefônica, are at an advanced stage in a separate sales process under exclusivity with a Brazilian strategic player in distributed generation.
Chairman Bernard Bulkin says the sale of these assets is a further step in the disciplined realisation of the company’s portfolio.
“Following a comprehensive and competitive process, the board concluded that this transaction represents the best available outcome for shareholders,” Bulkin says.
“We continue to progress the process for the remaining Brazilian assets with Telefônica as the offtake and will update shareholders as those discussions advance.”
VH Global Energy Infrastructure is a UK investment firm with a global focus on the energy transition. The company aims to create environmental impact without compromising on returns.
Write to Aaliyah Rogan at Mining.com.au
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