December 5 (Renewables Now) - Brazil's Administrative Council for Economic Defense (CADE) has approved on Monday, without restrictions, the acquisition of a majority stake in a 9.6-MW small hydropower plant (HPP) by Brazilian electricity trader Tradener.
The deal involves the sale of a 67.5% interest in the plant to FIP Pirineus, a investment fund controlled by Tradener. The seller is local renewables firm Atlantic Energias Renovaveis SA.
The Rondinha small HPP has Brazilian utility Celesc (BVMF:CLSC3) as its second largest shareholder. Located in Santa Catarina state, the plant has been in operation since 2014, supplying 70,000 inhabitants.
Tradener announced the deal back at the beginning of October. At that time its president, Walfrido Avila, said the acquisition of the HPP was in line with the company's goal to have 50% of its portfolio coming from own energy projects in the next five years.