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