Omega Geração closes acquisition of 303 MW Brazilian wind complex

Omega Geração S.A. has concluded the acquisition of 100% outstanding shares of CEA – Centrais Eólicas Assuruá, owner of CEA I and CEA II, from Fundo de Investimentos em Participacoes (FIP IEER).

The purchase price of BRL1.9 billion (US$492 million) includes BRL 1 billion (US$257.5 million) in net debt assumption by Omega, BRL548 million (US$141 million) paid in cash on June 5, BRL30 million (US$7.7 million) to be paid in cash during the second semester of 2019 and BRL329 million (US$84.7 million) to be paid in cash or shares, in up to three years, at the discretion of the company. The purchase price may be adjusted based on changes in the working capital of the assets between the closing balance sheet date and the closing date, as well as the monetary correction of the deferred installments.

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