LONDON, UK: VH Global Sustainable Energy Opportunities plc (GSEO) – a London-listed investment company advised by Victory Hill Capital Advisors LLP – is pleased to announce that it has exchanged contracts to acquire its second US$ 20m project development tranche in Brazil.
The capital investment will be used to fund seven distributed solar generation projects, which will provide over 26MW of energy to a multinational telecommunications company. This round of funding aims to help this multinational expand and power its network, allowing for improved network access particularly in remote parts of Brazil.
This investment programme will be one of several renewable power development programmes for GSEO in Brazil. This tranche forms part of a larger US$ 63mn commitment by GSEO, initially announced on 28 May 2021 to fund the construction of 18 remote distributed generation projects across 10 Brazilian states, aiming to generate a total capacity of 75MW.
On completion of the acquisition of this second tranche, total funds deployed under this commitment will be US$ 24m across 11 projects totalling 30 MW. The remaining US$ 39m will be deployed by the end of Q3 2021.