CPFL Energia completes Bons Ventos acquisition for USD 537.2m

(SeeNews) - Jun 20, 2012 - Brazilian power company CPFL Energia (SAO:CPFE3), through its wind energy subsidiary CPFL Renovaveis, completed the acquisition of 100% in local wind energy generator Bons Ventos Geradora de Energia, for BRL 1.09 billion (USD 537.2m/EUR 423m).
The value includes a debt of BRL 439 million.
CPFL has already cashed BRL 445 million to the sellers and will pay other BRL 78 million in up to 30 days. Also, some BRL 128 million will be destined to cancel debentures issued by Bons Ventos.
With the deal, CPFL has added 157.5 MW to its installed capacity, thus achieving 945 MW in operation. The company also has 790 MW under construction.
Bons Ventos exploits the wind parks Taiba Albatroz, with installed capacity of 16.8 MW; Bons Ventos, with 50.4 MW; Enacel, with 31.5 MW; and Canoa Quebrada, with 58.8 MW. All are located in Brazil's northeastern Ceara state and are completely operational, with the totality of energy contracted by Brazilian power holding company Eletrobras (SAO:ELET3) for 20 years, through Brazil's programme of incentives for alternative electricity sources Proinfa.
CPFL Renovaveis was created last year via the merger of the renewable assets of CPFL Energia and local alternative energy investment player ERSA.
(BRL 1 = USD 0.493/EUR 0.388)

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