Brazil's Cade okays AES' acquisition of 158.5-MW wind portfolio

Wind farm in Brazil. Author: Otávio Nogueira. License: Creative Commons, Attribution 2.0 Generic.

January 26 (Renewables Now) - Brazil's competition regulator CADE has okayed the acquisition of a 158.5-MW wind portfolio by local power producer AES Brasil (B3:TIET11), formerly AES Tiete Energia SA.

The deal, approved without restrictions, is valued at BRL 806 million (USD 147.4m/EUR 121.4m), including BRL 277 million of net debt, AES Brasil said previously.

The company is buying the special purpose companies (SPEs) that hold the 94.5-MW MS Wind Complex and the 64-MW Santos Wind Complex from the Brazilian arm of London-based renewables investor Cubico Sustainable Investments Ltd, namely Cubico Brasil SA. 

Located in the states of Rio Grande do Norte and Ceara, MS and Santos have been operational since 2013. These plants have 20-year power purchase agreements (PPAs) awarded in auctions held in 2009 and 2011.

With the transaction, AES Brasil can achieve 4 GW of installed renewables capacity, the firm noted.

(BRL 1.0 = USD 0.183/EUR 0.151)

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