Omega Geracao enters agreement for 50 MW wind project acquisition in Bahia
Omega Geracao SA has entered into an agreement with Fundo de Investimentos em Participacoes em Infraestrutura Energias Renovaveis (FIP IEER), the investment fund of Companhia de Energias Renovaveis (CER), for the acquisition of two wind projects in the state of Bahia in Brazil.
The two wind projects are the 25 MW Laranjeiras IX and the 25 MW Laranjeiras III wind farms. Omega is set to acquire CEA III - Centrais Eolicas Assurua III SPE SA, the holder of the two wind projects.
Omega Geracao will pay about BRL20 million (US$4.9 million) in cash for the 10% stake in CEA III. The company will also transfer 5 million of its own shares for the remaining 90%.
Laranjeiras III and IX have secured their respective power purchase agreements (PPAs) in the 2014 A-5 energy auctions at BRL179.92 (US$44.7) per MWh and BRL180.14 (US$44.79) per MWh, respectively.
The deal is subject to pending approvals.
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