Brazilian power producer Omega Energia SA plans to become a major renewable energy player in the United States in the coming years, its chief executive said, as it “cautiously” enters the market through a Texas launch planned this year.
Omega, backed by investors such as British private equity firm Actis LLP, is set to start selling power later this year in Texas, where it is working on a 265.5-megawatt wind farm. It hopes to trade power through an online platform like one already used in Brazil.
Omega’s focus was on developing smaller on-site projects, mainly solar farms.
U.S. growth plans did not signal a shift away from Brazil, whose new government has stressed the importance of climate policy.
Large greenfield projects have become less attractive in the South American country due to rising costs and oversupply.