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Brazil's Omega Geracao concludes purchase of 303-MW wind portfolio

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

June 6 (Renewables Now) - Brazilian renewable energy company Omega Geracao SA announced on Wednesday it has concluded the acquisition of CEA – Centrais Eolicas Assurua, owner of a 303-MW wind portfolio.

Omega is paying about BRL 1.92 billion (USD 492m/EUR 436m), of which BRL 1 billion is assumed net debt, to Fundo de Investimentos em Participacoes (FIP IEER).

The company has made a BRL-548-million cash payment yesterday. Of the remainder, BRL 30 million will be paid in cash during the second half 2019 and BRL 329 million will be paid in cash or shares in up to three years.

Assurua's portfolio includes 13 different wind farms that won contracts during the 2013 and 2014 reserve energy auctions. In addition to the wind assets, 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, Omega noted.

(BRL 1 = USD 0.26/EUR 0.23)

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Browse all articles from Lucas Morais

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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