Biomass plant on the horizon for Brazil

Atico, an asset management fund in Brazil, and German energy company Steag have partnered to build a biomass plant in Bahia, Brazil.

According to reports the new plant, Atico's first renewables project, will cost BRL750 million (€240 million). It will generate 150MW of renewable energy from woodchips made from eucalyptus.

The feedstock used to make the woodchips will be sourced from a eucalyptus plantation owned by Remasa, in which Atico has acquired a 50% -1 stake via its Tree Florestal fund.