8th Dec 2022 10:56
VH Global Sustainable Energy Opportunities PLC - invests in sustainable energy infrastructure - Completes the acquisition of the Mascarenhas hydro electric facility in the state of Espirito Santo, Brazil. The facility is a 198 megawatts hydro plant, ranked as a top 10 hydro plant in the country. Says the final amount paid on completion was BRL708 million, around USD136 million.
VH Global expects the facility's annualised returns to support its annual dividend and exceed its target total return.
In August, VH Global bought the hydro facility from Brazil's electric utility firm EDP Energias do Brasil SA, a subsidiary of European utility Electricidade de Portugal SA.
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12-month change: down 2.7%
By Xindi Wei, Alliance News reporter
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