AES Tiete to buy 386-MW Brazilian wind complex from Renova
AES Tiete Energia SA has entered into an agreement with Renova Energia S.A. for the purchase of the totality shares of the 386-MW Alto Sertao II wind power complex in Bahia (Brazil).
The agreed upon price for the acquisition is BRL600 million (€181 million) and is based on reference balance sheet of Alto Sertao II estimated by the Company as of December 31st, 2016, derived from the actual financial statements dated September 30th, 2016. The acquisition price is subject to typical adjustments for this type of transaction including standard working capital adjustments.
The Alto Sertao II complex has been generating electricity since 2014. It is comprised of 15 wind parks using a total of 230 turbines.
The Alto Sertão II Wind Complex has contracted energy for 20 years sold through the energy reserve auction and new energy auctions held in 2010 and 2011, with contracts in force until 2033 and 2035, respectively.
Italo Freitas, president of AES Tiete said:
"This is an important step towards fulfilling the company's growth strategy."
Country news
-
-
April 19, 2017
Engie switches on a 97 MW wind complex in Brazil
Engie Brasil Energia SA has announced the commissioning its 97.2 MW wind complex in Ceara State, Brazil.
Read more -
April 17, 2017
BNDES selects Vinci to manage its sustainable energy fund
The Brazilian Development Bank (BNDES) through its investment subsidiary BNDESPAR has selected Vinci Partners to manage its BRL-500 million (US$162.9 million) sustainable energy fund.
Read more -
April 12, 2017
Operating license for Brazil's 11.2-GW Belo Monte hydroelectric plant is suspended
A federal court suspended the operating license for Brazil's 11.2 GW Belo Monte hydroelectric plant following allegations that the project's owners did not meet environmental requirements.
Read more -
March 28, 2017
BNDES signs $272m loan for Brazilian wind projects
Rio Energy, a developer, owner and operator of renewable energy projects in Brazil, formed by energy-focused global private equity firm Denham Capital, has signed financing agreements with the National Bank for Economic and Social Development (BNDES) in Brazil, in the amount of BRL848 million (US$272 million), for the construction of eight wind farms in the Serra da Babilônia Complex.
Read more -
March 10, 2017
Canadian Solar Raises US$20 million from CPDFund
Canadian Solar Inc. has announced that it has received US$20 million unsecured funding from the China and Portuguese-speaking Countries Cooperation and Development Fund (CPDFund) to support the development of eligible projects in Brazil, including the 191 MWp Pirapora I Project in the state of Minas Gerais.
Read more
