Brazilian Company Secures Wind Farm Projects for 303 MW Generation

Written by Paulo Nogueira

Published on 04/02/2019 at 19:13

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Omega Generation Acquired Assurua and Its 13 Wind Farms with Participation from an Institution That Provides Investment Funds for Renewable Energy Projects

The Administrative Council for Economic Defense of Brazil (CADE) approved without restrictions the acquisition by the Brazilian renewable energy company Omega Generation SA of the 303 MW Assurua wind farm. In addition to the wind asset, Omega will also have the right of first offer (ROFO) for 2 GW of wind and solar projects in the state of Bahia. This right can be exercised as soon as the assets become operational.

The deal was closed a month ago with the Private Equity Fund (FIP IEER), an investment fund from the Renewable Energy Company (CER). According to a previous statement made by Omega, the transaction is valued at BRL 1.9 billion (USD 516.67m / EUR 451.33m), including cash payment and just over BRL 1 billion in assumed net debt.

Assurua consists of 13 different wind farms, secured during the reserve energy auctions of 2013 and 2014. It has been operational since February 2018 and has a 20-year power purchase agreement (PPA), noted Omega.

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Brazilian Company Secures Wind Farm Projects for 303 MW Generation

Omega Generation Acquired Assurua and Its 13 Wind Farms with Participation from an Institution That Provides Investment Funds for Renewable Energy Projects

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Omega Generation Acquired Assurua and Its 13 Wind Farms with Participation from an Institution That Provides Investment Funds for Renewable Energy Projects

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