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

The National Bank for Economic and Social Development (BNDES) authorized the transfer of control of the wind energy cluster in Chui, with a capacity of 582.8 MW, to Omega Geração SA, announced this Wednesday.

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.

Read Also

• Omega Energia Closes R$ 500 Million Contract to Acquire Wind Farm from Eletrobras
• Wind Farm in RN Receives Financing Approval of R$ 208 Million from BNDES
• BNDES Will Release USD 2 Billion for Macaé and 4,000 Jobs in Power Plant Construction at Peak of Project Starting in 2020
• Natural Gas Will Receive Financing from BNDES for the Construction of Routes 4, 5, and 6
• BNDES Raises Investment Forecast in Brazil for the Next 4 Years

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.

Omega Geração Acquired Half of the Wind Farms in Bahia in August

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.