Wednesday, 20 October 2021 01:37 GMT

Nebras Power forms JV with Brazilian company


(MENAFN- The Peninsula) The Peninsula

Doha: Nebras Power Investment Management B.V. (“NPIM”), a wholly owned affiliate of Nebras Power Q.P.S.C and Companhia Energética Integrada (CEI), a prominent Brazilian power investment company, announced yesterday a new energy partnership in Brazil. 

The newly formed Joint Venture (JV) will provide important support to Brazilian infrastructure by promoting the growth of the energy sector and consolidating the technical and market expertise of two leading companies in the investment and power generation sectors. The partnership consists of a new brand that will operate and manage 18 hydroelectric plants in Brazil, with an installed capacity of 72MW, a portfolio of more than 13GW in photovoltaic projects, and establishing BEI – a service company that provides operation, maintenance and engineering for power plants.

In addition to continuing existing operations and projects, the partnership has a clear objective of advancing the joint venture's growth through the acquisition of operating assets and the development and construction of greenfield projects, combining Nebras's experience in large international investments and knowledge of the local market and CEI management capacity.

Mohammed Nasser Al Hajri, the Chairman of Nebras Power, said“For Nebras, driving growth in the Brazilian power sector underscores our principal mandate, which is to identify and invest in profitable and vibrant opportunities in both developed and emerging markets. We are proud to be part of this enterprise that will help bolster the power sector in Brazil and deliver clean and reliable energy, while providing an economic boost to local communities.” 

On his part, Khalid Mohammed Jolo, the CEO of Nebras, expressed enthusiasm on the occasion of the partnership announcement and said:“What we are witnessing is a new milestone for Nebras. This co-venture is a culmination of hard work and strategic planning and will leverage our talent and experience to develop and oversee a wealth of sustainable energy projects. Furthermore, it will considerably expand Nebras's reach within Brazil and will strengthen our portfolio and regional ambitions in Latin America.”  

The synergy of Nebras and CEI will bring significant market insight to this partnership, including the adoption of pioneering technologies and a commitment to sustainable construction and providing dedicated, permanent power solutions for residential, business, and industrial developments.

“This partnership consolidates the path of expansion of the CEI group in the energy market. It has enormous potential at a time of great transformations in the sector, which will open up even more opportunities. CEI has in its DNA the constant search for innovation and growth, acting in the generation, development, commercialization, and provision of services in the energy market. We believe in the evolution of the sector in the country, and we want to be protagonists in this,” said Romero Machado Ferreira, CEO of CEI Energética.

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