Brazil's Omega Energia promotes 531-MW Texas wind project in US debut

Brazilian energy firm Omega Energia SA (BVMF:MEGA3) is starting activity in the US, having just acquired the Goodnight wind farm project in Texas and ordered 265.5 MW of Vestas turbines for its first phase.

The news comes three days after Omega announced it was in final negotiations to acquire the project and was talking to an unnamed US party that could invest in the firm's renewables in the US.

"The Goodnight Project should be implemented as part of a co-investment agreement with one of the main North American infrastructure asset managers," Omega said in a bourse filing on Thursday. The parties are now negotiating last details before executing the agreement, the Brazilian company added.

The Goodnight wind farm could reach 531 MW of installed capacity by the end of 2023, according to Omega. Investment in the Goodnight I phase is estimated at between USD 410 million (EUR 392.8m) to USD 430 million, financed by 40% to 45% of equity from Omega and its partners. Omega will also rely on other project finance instruments in the US, such as tax equity.

Omega added that it has entered into several binding agreements with different suppliers, including Vestas Wind Systems A/S (CPH:VWS). The Danish turbine maker will supply 59 units of its V135-4.5 MW machines for the project and take care of the operation and maintenance of the wind farm for the next 30 years.

Commissioning of the Goodnight 1 wind farm is scheduled for the fourth quarter of 2023, Vestas said separately.

(USD 1.0 = EUR 0.958)

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