The construction of the Boa Sorte solar plant is planned to start in fourth quarter of 2022, and operations are planned to start in fourth quarter of 2023. Total investments are estimated to USD 320 million (100% basis). Hydro Rein will have a 33.3% ownership in the project. The project has been submitted to the Brazilian competition authority (CADE) for clearance.

The Boa Sorte solar plant will have a planned installed capacity of 438 MW.

Albras, within the scope of a “self-production project”, has signed a US dollar denominated power purchase agreement (PPA) with Boa Sorte for an annual supply of 815 GWh from 2025 to 2044. The agreement covers 12 percent of Albras’ annual power consumption.

The Albras primary aluminum plant is located in the Brazilian state of Pará and is a joint venture between Hydro and NAAC (Nippon Amazon Aluminium Co. Ltd.). Albras is the largest producer of primary aluminum in Brazil with an annual production capacity of 460,000 tonnes.