Brazil's Atlantic Energias Renovaveis announces change of owners
Sep 6, 2013 - Brazilian renewable energy developer Atlantic Energias Renovaveis yesterday announced it is now owned by local fund Pattac Empreendimentos e Participacos and Spanish Servinoga, after Spanish Adelanta Corporacion and Cupa Renovables sold their 22.22% stakes.
With the deal, Pattac's stake in Atlantic has increased to 60% while Servinoga now holds 40%.
The new owners guaranteed they will continue with the ongoing BRL 850 million (USD 365.6m/EUR 278.4m) investment plan of Atlantic, which foresees the construction of seven wind power plants and a small hydroeletric power plant (HPP) with total capacity of 220 MW. The wind projects are located in the northeastern Rio Grande do Norte and Bahia states, while the HPP will be in southern Santa Catarina.