Appian Capital Advisory, an investment adviser to private equity funds investing in mining and mining-related companies, on Thursday announced a joint venture (JV) partnership with Brazilian renewable energy provider Dectronic to develop a portfolio of 20 ready-to-build solar parks.
The partnership will develop parks with a total capacity of 62.4 MWp in Minas Gerais – a leading mining state with excellent solar irradiation and fiscal incentives.
In addition, Appian and Dectronic are evaluating opportunities for solar farms at its individual mine sites across Brazil, given the high suitability of the Dectronic design.
Appian said the development of the 20 solar sites in Minas Gerais, which would be led by Dectronic’s dedicated construction arm, was set to begin in the second quarter.
“This is a significant milestone for Appian’s sustainability ambitions. As a leading investor in mining, we see ESG as core to the delivery of our strategy and the success of our investments. By partnering with an industry expert in Detronic, we have demonstrated that providing clean energy to our portfolio in Brazil is a priority, alongside delivering attractive, risk-adjusted returns to our investors in the process. I look forward to working with our team to deliver on the opportunity that this partnership presents for our business,” said Appian founder and CEO Michael Scherb.