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Investing.com -- Voltalia stock gained 2.5% following a Bloomberg report suggesting the company is pursuing data centre projects in Brazil with investors including ByteDance and Brookfield Corp.
According to the unconfirmed article citing unnamed sources, Voltalia has approached potential partners to develop data centre projects that could reach up to 1 gigawatt at the Pecem complex in Brazil’s Ceara State. The renewable energy company has reportedly made initial outreach to tech giants Alphabet and Meta as well.
The report indicates Voltalia could provide electricity from its renewable energy projects in northeastern Brazil to power these data centres, potentially establishing power purchase agreements (PPAs) with the technology companies.
Morgan Stanley analysts commented: "We read this as potentially meaning that Voltalia would sign PPAs with data centre offtakers.
By providing a potential attractive offtake route (we would imagine that these PPAs may come at a price premium vs other agreements), we think this may provide a reassuring signal on the group’s Brazilian renewable pipeline to investors, for which we have had a negative view given high curtailment low prices."
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