BNDES Approves Purchase of Omega Generation's 583 MW Wind Power Plant

BNDES Approves Purchase of Omega Generation’s 583 MW Wind Power Plant

Written by Valdemar Medeiros

Published on 29/11/2020 at 13:21

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According to a previous statement from Omega Geração, the Brazilian renewable energy company is purchasing the wind energy asset from the domestic energy distributor Eletrobras for approximately R$ 1.5 billion (USD 281.7 million / EUR 236.4 million), including the assumption of debts by BNDES.

Eletrobras Together with BNDES Sells Stake in Wind Energy

More specifically, Eletrobras sold a 78% stake in Eólica Santa Vitória do Palmar and a 99.99% stake in the special purpose companies (SPEs) Hermenegildo I, II, III, and Chui IX.

In September, Omega Geração received approval without any restrictions from the Brazilian competition regulator CADE for this wind energy transaction, in a statement from BNDES. The closing is still subject to the green light from the Regional Development Bank of the Extreme South (BRDE) alongside BNDES, which should happen before the end of the year. Regional Development Bank of the Extreme South (BRDE) alongside BNDES, which should happen before the end of the year.

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The renewable energy company Omega Geração (OMGE3) announced in August a binding agreement to acquire a 50% stake in wind farms from French EDF Renewables in Bahia, along with negotiations for the possible purchase of new projects.

The deal for the wind energy complexes Ventos da Bahia 1 and 2, which total 182.6 megawatts in capacity, was valued at R$ 661.7 million, including debts, with Omega Geração paying 55% of the value in cash and the remainder involving the assumption of long-term debt of the assets, the company said in a statement.

Meanwhile, the company reported that it has been conducting due diligence exclusively on a portfolio of wind energy projects with 265 megawatts in capacity, under evaluation until December, during which it may submit a binding offer for the assets.

BNDES Approves Purchase of Omega Generation’s 583 MW Wind Power Plant

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