Omega Geracao to acquire 303-MW wind park, ROFO for 2 GW in Brazil

Wind turbines. Author: Rex Brown. License: Creative Commons, Attribution-NoDerivs 2.0 Generic.

January 2 (Renewables Now) - Brazilian renewable energy company Omega Geracao SA said on Monday it has signed a deal to acquire the 303-MW Assurua wind power complex and the right of first offer (ROFO) for 2 GW of wind and solar projects in Bahia state.

Omega is buying the wind complex from Fundo de Investimentos em Participacoes (FIP IEER), the investment fund of Companhia de Energias Renovaveis (CER). The transaction is valued at BRL 1.9 billion (USD 489.51m/EUR 426.06m), including a cash payment and a little over BRL 1 billion in assumed net debt.

The deal gives Omega the right to make the first offer for some wind and solar projects with a combined capacity exceeding 2 GW in the same region. That right can be activated once these assets become operational.

Assurua has been fully operational since February 2018. It is comprised of 131 wind turbines making up 13 different wind farms. All operate under a 20-year power purchase agreement (PPA) awarded in the 2013 and 2014 reserve energy auctions.

The deal is subject to customary closing conditions, including creditor’s consent and approval by Brazil's Administrative Council for Economic Defense (CADE).

(BRL 1 = USD 0.26/EUR 0.22)

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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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