Petrobras to exit 25 MW of small HPPs in Brazil

Author: Matt Berlin. License: Creative Commons, Attribution-ShareAlike 2.0 Generic

August 2 (Renewables Now) - Brazilian state-controlled oil and gas company Petroleo Brasileiro SA (BVMF:PETR4), or Petrobras, said it has signed an agreement to sell its interest in two small hydropower plants (HPPs) totalling 25.4 MW.

The oil giant is selling a 20% stake in Termoeletrica Potiguar SA (TEP) to Global Participacoes Energia SA (GPE) for BR 81.3 million (USD 15.9m/EUR 13.4m). TEP holds 70% interests in Areia Energia SA and Agua Limpa Energia SA, owners of the small HPPs.

The 14-MW Agua Limpa and the 11.4-MW Areia, located in Tocantins state, have power purchase agreements (PPAs) in place until 2030 and 2031, respectively, according to a previous statement. GPE already owns the remaining stakes in these assets.

The transaction is pending clearance by local competition authorities, such as antitrust regulator CADE, the state-owned firm noted.

(BRL 1.0 = USD 0.196/EUR 0.165)

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