EDP Brazil has agreed to sell the 198MW Mascarenhas to London-based Victory Hill Global Sustainable Energy Opportunities, in line with the company’s plans to diversify its portfolio and expand investments in solar generation and network.

Mascarenhas hydro facility is located on the Doce River, in the state of Espírito Santo. The sale is expected to include the retention of all current employees at the site, and will see Brazilian firm Paraty Energia appointed as operational partner.

In its strategic plan announced for the 2021-2025 cycle, EDP aims to reach 1GW of installed capacity in photovoltaic generation in Brazil. The company has already announced, in partnership with EDP Renováveis, the construction of new solar plants with a total combined capacity of 263 MWac.