Brazil okays Votorantim, CPPIB's purchase of 419-MW wind portfolio
Tiangua wind farm. Source: Casa dos Ventos (casadosventos.com.br).
Brazil's Administrative Council for Economic Defense (CADE) approved without restrictions the acquisition of a 419.10-MW wind portfolio by Votorantim Energia and Canada Pension Plan Investment Board (CPPIB).
The two buyers secured the deal through their joint venture VTRM Energia Participacoes SA, which is acquiring 14 under development wind projects located in Piaui and Pernambuco states from Salus Fip, the parent of Brazilian wind energy company Casa dos Ventos.
VTRM states that this operation is a business opportunity for it to increase the development of new projects in the energy market and expand its operations in the wind energy segment in Brazil's Northeast region.
The JV had call option rights to 13 of the 14 project companies and will acquire the last one, namely Ventos de Santo Isidoro Energias Renovaveis SA, separately.