September 11 (Renewables Now) - French renewable power plants operator Voltalia SA (EPA:VLTSA) said today it has sold a 197-MW portfolio of shovel-ready wind projects in Brazil to local power producer Echoenergia, which is controlled by private equity firm Actis Group.
The deal concerns assets located in Voltalia’s Serra Branca cluster in North East Brazil and is part of a newly-formed partnership under which Echoenergia could buy up to 500 MW in total.
Echoenergia has already secured 197 MW of free market power sales deals and is to pursue more such contracts up to the 500-MW maximum. Currently, the company has a portfolio of 700 MW of installed capacity in the northeastern states of Brazil and a series of projects at implementation stage.
The purchase has no impact on Voltalia-owned projects in Brazil, including 433 MW of already operating assets and 223 MW won in 2017 and 2018, the vendor said. Serra Branca is Voltalia’s largest cluster of projects in Brazil, with a long-term potential of nearly 2 GW, including 309 MW in operation, 223 MW to be completed in 2020 and a big volume that is fully developed.
Apart from the sale of the sites, Voltalia also expects to generate revenues from the provision of services to Echoenergia during the construction and operation of the plants. The transaction enables the company to share the cost of a new transmission line to be available to all prospective Serra Branca projects, it noted.