September 19 (Renewables Now) - Portuguese renewable power company Finerge SA has announced its intentions to acquire domestic wind farm management firm BIF Portugal Wind – Unipessoal Lda for an undisclosed amount.
The decision was made public on Wednesday by the country's Competition Authority (AdC). According to the filling, BIF manages the Toutico and Lomba do Vale wind assets. The company is currently held by BIF II LUXGEN SaRL, a subsidiary of Canada’s Brookfield Asset Management Inc (NYSE:BAM).
AdC stated that it received this notification on September 12, 2019, and any observations from interested parties on this merger should be submitted within 10 business days.
Finerge, owned by Mitsubishi UFJ Financial Group (TYO:8306), currently has 43 wind parks in its portfolio, which represents 212 TWh of clean energy production, enough to offset 908 tonnes of carbon dioxide (CO2) emissions, according to information on its website.