Engie Brasil acquires 260 MWp of solar farms at home
Solar PV plant in Brazil
Brazilian energy company Engie Brasil Energia SA (BMVF:EGIE3) announced on Thursday that it has finalised the acquisition of two solar photovoltaic (PV) farms, with a combined capacity of 259.8 MWp in Brazil.
Engie Brasil bought the plants from Engie Solar SAS, Solairedirect Investment Management SA and Drankensberg Capital 1 SA for BRL 625 million (USD 122.6m/EUR 110.9m) in total. The buyer also took over a net debt of roughly BRL 620 million contracted with the Brazilian Development Bank (BNDES), according to the announcement.
The acquisition made Engie Brasil the owner of the 158.3-MWp Paracatu and the 101.5-MWp Floresta plants.
Paracatu has been in operation since February 2019 and benefits from a 20-year sales agreement for 34 average megawatts (MWa) of its output. The 101.5 MWp Floresta solar farm, operational since December 2017, has a 20-year contract for 25.1 MWa in place.