Brazil's CADE okays Omega Geracao's purchase of 303-MW wind park

Brazilian wind farm. Author: Carla Wosniak. License: Creative Commons, Attribution 2.0 Generic

February 4 (Renewables Now) - Brazil's Administrative Council for Economic Defense (CADE) approved without restrictions the acquisition by Brazilian renewable energy company Omega Geracao SA of the 303-MW Assurua wind park.

In addition to the wind asset, Omega will also get the right of first offer (ROFO) for 2 GW of wind and solar projects in Bahia state. This right can be exercised once the assets become operational.

The deal was made a month ago with Fundo de Investimentos em Participacoes (FIP IEER), the investment fund of Companhia de Energias Renovaveis (CER). According to a previous statement made by Omega, the transaction is valued at BRL 1.9 billion (USD 516.67m/EUR 451.33m), including a cash payment and a little over BRL 1 billion in assumed net debt.

Assurua consists of 13 different wind farms, secured during in the 2013 and 2014 reserve energy auctions. It has been operational since February 2018 and has a 20-year power purchase agreement (PPA), Omega noted.

(BRL 1 = USD 0.27/EUR 0.24)

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Lucas is based in Brazil. He joined Renewables Now to expand coverage of the Ibero-American market, a highly attractive destination for green energy investment.

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