AES Tiete Energia SA to acquire 743 MW Alto Sertao III wind power

AES Tiete Energia SA announced to acquire 743 MW Alto Sertao III wind power from Renova Energia SA. The acquisition also includes a 1.1 GW wind project pipeline. The project is divided into Phase A (438 MW), already in pre-operational stage, and Phase B (305 MW).

The AES Tiete will acquire the assets by paying BRL 516 million (USD 130.56 million) in total, of which BRL 350 million (USD 88.56 million) is for Phase A. The amount includes the payment of its overdue credits, up to BRL 90 million (USD 22.77 million) for Phase B and around BRL 76 million (USD 19.23 million) is for the 1.1 GW of projects.

AES Tiete also agreed to assume the debt of the project amounting to BRL 988 million (USD 250 million).