AES Tietê completes Guaimbê solar park acquisition from Cobra Group
AES Tietê Energia, a Brazilian unit of AES Corporation, has completed the acquisition of a solar facility in Brazil’s Sao Paulo state from Cobra do Brasil, a unit of Grupo Cobra. The solar project includes the 180 MWp /150 MWac Bauru Solar Complex, a five-facility photovoltaic solar project located in the Guaimbe municipality.
AES Tiete is paying BRL607 ($149.762 million) after working capital adjustments, to local firm Cobra Brasil Servicos, Comunicacoes e Energia SA, for the photovoltaic complex. The company is paying $32.9 million for all the shares in five special purpose entities (SPEs) and the remaining $113 million relates to debentures issued by the SPEs and acquired by AES.
The solar project had been controlled by five specific purpose entities (SPEs) held by Cobra do Brasil. It has a 20-year power purchase agreement (PPA) and is already in commercial operation.
Country updates
-
-
September 04, 2018
Brazil awards contracts to 835 MW projects in latest energy auction
Brazil's Câmara de Comercialização de Energia Elétrica (CCEE - Chamber of Electric Energy Commercialisation) has awarded power purchase agreements for projects...
Read more -
September 04, 2018
GE selected to supply 14 MW solar plant in Brazil
GE Power has been chosen by EPC Construtora Quebec, a Brazilian engineering company, to provide its 4.4 MW and 2.2-MW LV5 1,500-volt inverters and skids for the 14 MW Verde Vale III solar project...
Read more -
August 31, 2018
CPFL Energias Renovaveis wins contracts for 28.5 MW renewable capacity in Brazilian auction
CPFL Energias Renováveis S.A. (CPRE3) has signed a power purchase agreement (PPA) to sell the 28 MW of power of the Lucia Cherobim hydropower project located in the state of Paraná...
Read more -
August 31, 2018
Eletrobras sells three distribution companies
Brazil’s state-controlled power company Centrais Elétricas Brasileiras (Eletrobras) has divested its hree power distribution companies at a public auction in Sao Paulo. The thr...
Read more -
August 28, 2018
Brazil's CVM asks China State Grid to raise bid price for CPFL
Brazil's Securities and Exchange Commission (CVM) has stated that the State Grid Corporation of China has to raise its bid price for the acquisition of CPFL Energias Renovaveis. The Braz...
Read more
