Omega Geracao wraps up buy of 50% in 321-MW Brazilian PV complex
Solar array. Author: U.S. Department of Agriculture .
Brazilian renewable energy company Omega Geracao SA said on Monday it has completed the acquisition of a 50% stake in the 321-MW Pirapora solar complex.
Omega bought a 30% interest from EDF Renewables do Brasil and 20% from Canadian Solar UK Projects Ltd for an enterprise value of BRL 1.1 billion (USD 280.17m/EUR 246.62m).
Of the total sum, Omega payed BRL 456 million in cash on Monday while the remaining BRL 644 million represents the assumption of debt. With the conclusion of the transaction, EDF and Omega each hold 50% in the solar power complex.
This is Omega's first investment in solar power. With the addition of the Delta 5 and 6 plants, expected to be completed in the first quarter of 2019, the company will have 745 MW. Of this total, solar will account for 22% of its capacity, with wind and hydro representing 67% and 11%, respectively.