Omega Geracao agrees to acquire 303 MW Assurua wind power complex from Companhia de Energias Renovaveis

Brazilian renewable energy company Omega Geracao SA has agreed to acquire the 303 MW Assurua wind power complex and the right of first offer (ROFO) for 2 GW of wind and solar projects in Bahia state.

The project will be purchased from Fundo de Investimentos em Participacoes (FIP IEER), the investment fund of Companhia de Energias Renovaveis (CER) for BRL1.9 billion (US$504.18 million). 

The 303 MW Assuruá wind power complex is located in Gentio do Ouro, Bahia and consists of 131 wind turbines and is made up of 13 different wind farms. It has been in operation since February 2018.

The transaction is subjected to customary closing conditions, also to include creditors consent and approval by Brazil's Administrative Council for Economic Defense (CADE).