European Energy and Impact Fund Denmark have completed the sale of the Coremas solar park in the state of Paraíba, Brazil, to China Energy Overseas Investment Division in Brazil, known as CEEC Brazil – an Energy China company. The solar park comprises three entities — Coremas I, II and III — which together have a total capacity of 93.41 MW and operate under a power purchase agreement with Brazil’s Reserve Energy Auctions.
Coremas I, II and III were partially completed in 2018, with the entire solar park complex becoming operational in 2021. Impact Fund Denmark financed the projects through the Danish Climate Investment Fund, established in 2014 in cooperation with Danish pension funds and private investors.
The Coremas complex produces 172.35 GWh annually, equivalent to the electricity consumption of more than 70,000 Brazilian households. Throughout the project, European Energy and Impact Fund Denmark created local jobs and initiated several social programmes, including the distribution of COVID-19 relief packages in the local area.
The investment reflects European Energy’s strategy of developing renewable energy assets that attract long-term investors committed to advancing the global energy transition.
We are pleased to complete this transaction and to see the Coremas solar facilities continue their contribution to Brazil’s renewable energy mix under new ownership. Brazil has significant potential for solar energy, and this project demonstrates how international collaboration can support both clean energy generation and local economic development.
The sale marks another successful exit in the Danish Climate Investment Fund. The project is a strong example of how we aim to work closely with Danish companies to create global green impact. Coremas has generated significant local benefits, and the communities will continue to benefit from the project. The investment demonstrates how private capital can be mobilised to accelerate the green transition.
European Energy continues to view Brazil as a key market for renewable energy development, with a pipeline of more than 600 MW in the country, encompassing both wind and solar projects. The company is also advancing opportunities in green fuels, having entered into a Heads of Agreement with Petrobras to jointly develop a commercial-scale e-methanol production facility in Suape, Pernambuco.
SVP, Communication & Marketing
Charlotte Holst Frahm
+45 41 38 12 42
