Despite challenging environment at global level due to outbreak of coronavirus pandemic, Nebras Power, the foreign investment arm of Qatar Electricity & Water Company (QEWC), is moving ahead with its global expansion plans.
Nebras Power has expanded its investments in the Netherlands by entering into partnerships to develop solar energy stations and works are in progress to complete the same in 2021, according to the Annual Report of QEWC released yesterday. In addition, Nebras Power is in the process of increasing its stake in several projects in Jordan and these acquisitions are expected to be completed in the first half of 2021. Nebras Power has also embarked on expanding its operations in Brazil by studying new investment opportunities.
The company has reviewed many investment opportunities and entered into negotiations with investors around the world during the year and these efforts are expected to add new assets to its investment portfolio in 2021.
As per the report, the company has completed the acquisition of a 49 percent stake in ‘Stockyard Hills’ a wind energy project in Australia, located in the Australian state of Victoria.
The project contains 149 wind turbines with a total capacity of 527 MW and commercial operation of the plant is expected to start at the beginning of the year 2021.
The project will be the largest wind energy project in the southern hemisphere and this acquisition is an important initial step for the company to enter the Australian energy market and invest in wind energy projects.
Nebras Power has also embarked on expanding its operations in Brazil by studying new investment opportunities. The company has reviewed many investment opportunities and entered into negotiations with investors around the world during the year and these efforts are expected to add new assets to its investment portfolio in 2021.
The company is working to reach developing markets and improve the (energy, technology) mix in its portfolio in terms of renewable and natural gas-based resources.
