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VH Global Sustainable Energy Opportunities PLC - invests in sustainable energy infrastructure - Buys Mascarenhas hydro electric facility, a 198 megawatts hydro plant in Espirito Santo Brazil, for a total consideration of R$1.23 billion, around $236.7 million. The Mascarenhas facility is ranked as a top 10 hydro plant in the country, the company adds.
Investment Adviser Victory Hill Eduardo Monteiro says: ‘The acquisition of Mascarenhas marks our first investment in hydro power and provides us with a highly reliable source of power generation backed by long term secure PPAs.’
Says the hydro facility is being bought from Brazil's electric utility firm EDP Energias do Brasil SA, a subsidiary of European utility Electricidade de Portugal SA.
Current stock price: 113.00 pence
12-month change: up 12%
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