13th Jul 2021 17:21
(Alliance News) - VH Global Sustainable Energy Opportunities PLC on Tuesday said it has acquired its second USD20 million project development tranche in Brazil.
VH Global is a London-listed investment company advised by Victory Hill Capital Advisors LLP.
The capital investment will be used to fund seven distributed solar generation projects, it said. This round of funding aims for improved network access particularly in remote parts of Brazil.
This investment programme will be one of several renewable power development programmes for VH Global in Brazil. This tranche forms part of a larger USD63 million commitment by VH, initially announced in May to fund the construction of 18 remote distributed generation projects across 10 Brazilian states, aiming to generate a total capacity of 75 megawatts.
On completion of the acquisition of this second tranche, total funds deployed under this commitment will be USD24 million across 11 projects totalling 30 MW. The remaining USD39 million will be deployed by the end of the third quarter of 2021.
Shares in VH Global ended down 0.2% at 98.60 pence each in London on Tuesday.
By Amrit Sahota; [email protected]
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