April 17 (Renewables Now) - French renewables developer Total Eren SA has acquired its first wind energy asset in Brazil, a 92-MW wind farm, from local developer Vila Energia Renovavel, Reuters reported on Tuesday.
Under the agreement, the Brazilian company will retain a 10% stake in the Terra Santa park, stated Fernando Estevao de Meneses, Vila Energia's partner-director.
Located in Brazil’s northeast state of Rio Grande do Norte, the complex requires a total investment of BRL 410 million (USD 105m/EUR 93m) and is scheduled to start production in 2021. Terra Santa has a 20-year supply contract with Brazilian utility Cia Energetica de Minas Gerais SA (BVMF:CMIG4), better known as Cemig.
The French company already had renewables portfolio in Brazil consisting of three solar parks with a combined capacity of 140 MW, two of which also bought from Vila Energia, Reuters said.
(BRL 1 = USD 0.26/EUR 0.23)