Velcan has said in a statement that the 10MW Quebra Dedo Project in Brazil has been cancelled, after the project had been stalled for several years due to administrative and environmental issues.

Quebra Dedo had less than 15 years of concession left, and has been cancelled by the Brazilian Electricity Regulatory Agency (ANEEL).

The related development costs have already been entirely provisioned in the Group’s balance sheet since 2011.