CADE approves stakes acquisition in 321 MW solar complex of Omega Geracao
Brazil's Administrative Council for Economic Defense (CADE) has approved without restrictions the acquisition of a 50% stake in the 321 MW Pirapora solar power complex by Omega Geracao SA.
The deal represents a total investment of BRL 1.1 billion (USD 246.86m/EUR 209.95m), but the final price may be different depending on certain conditions.
The project is located in the municipality of Pirapora, State of Minas Gerais, Brazil and was originally owned by a local unit of EDF Renewables and Canadian Solar UK Projects Ltd, which held 80% and 20% stakes, respectively. Under the deal, Omega is buying a 30% interest from EDF and all of the shares held by Canadian Solar. The facility operates under a 20-year power purchase agreement (PPA) awarded in the 2014 and 2015 reserve energy auctions.
Country updates
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