AES Brasil concludes purchase of 158.5-MW wind portfolio

Brazilian energy firm AES Brasil (BVMF:AESB3) has finalised the acquisition of a 158.5-MW wind portfolio from Cubico Brasil SA.

The deal is valued at BRL 772 million (USD 146.3m/EUR 121.3m), including BRL 183 million of net debt, the local arm of US-based AES Corporation (NYSE:AES) said.

Overall, the company is buying the special purpose companies (SPEs) that hold the MS and Santos wind power complexes. Located on two sites on the coast of Rio Grande do Norte and Ceara states, the wind farms have been in operation since 2013. These plants have 20-year power purchase agreements (PPAs) awarded in auctions held in 2009 and 2011, at a price of BRL 226.81 per MWh.

With the new addition, AES Brasil now has 4.2 GW of installed renewables capacity, the firm noted.

(BRL 1.0 = USD 0.190/EUR 0.157)

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