Victory Hill Capital-backed VH Global Sustainable completed the acquisition of Mascarenhas Hydro Electric Facility from EDP Energias do Brasil for $242m.

Victory Hill Capital-backed VH Global Sustainable, an opportunistic infrastructure fund, completed the acquisition of Mascarenhas Hydro Electric Facility, a 198MW hydropower provider in Brazil, from EDP Energias do Brasil, a firm engaged in the generation, distribution, and sale of electric energy, for $242m. "The acquisition of Mascarenhas marks our first investment in hydropower and provides us with a highly reliable source of power generation backed by long-term secure PPAs. The preconditions to enabling more penetration of wind and solar power capacity in the Brazilian energy mix are well established and strongly underpinned by government policies and the significant contribution of hydropower. Hydropower generation is one of the oldest and most proven power generation sources, complementing more intermittent renewable sources such as wind and solar and ultimately facilitates the presence of such energy sources in the energy mix," Eduardo Monteiro, Victory Hill Co-CIO.