Petrobras Announces Million-Dollar Divestment in the Northeast; State-Owned Company Sells 3 Wind Farms to Vinci Group

Petrobras Sells More Assets in the Northeast. Wind Farms Sold to Grupo Vinci Are Part of 3 Wind Farms Located in Rio Grande do Norte

Petrobras informed last night (12/08) in a relevant fact about a multimillion-dollar divestment in the Northeast region. This time, the state-owned company announced that it signed with V2I Transmissão, managed by Vinci, the contract for the sale of the wind farms Mangue Seco 1, 3, and 4, which are part of the complex of 4 plants located in Guamaré, Rio Grande do Norte.

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The total value of the sale for Petrobras’ 49% stake is R$ 89.9 million for the Mangue Seco 3 and 4 wind farms, to be paid in two installments, with R$ 22.5 million on the date of today, and R$ 67.4 million upon closing of the transaction, subject to the adjustments provided in the contract.

For the Mangue Seco 1 wind farm, the sale value is R$ 42.5 million, to be paid in a single installment at the closing of the transaction, subject to the adjustments provided in the contract.

“With this operation, Petrobras maintains its focus on reducing its indebtedness while concentrating its resources on assets with greater value generation potential, such as oil and gas fields in deep and ultra-deep waters. In parallel, Petrobras remains committed to the transition to a low-carbon economy, investing in new technologies for the decarbonization of production and in the development of more efficient and sustainable fuels. The company also continues to invest in renewables through research, aiming to acquire the necessary skills to eventually operate renewable sources on a larger scale in the future,” says Petrobras’ Director of Institutional Relations and Sustainability, Roberto Furian Ardenghy.

The remaining amount to be paid to the oil company (R$ 67.4 million) will depend on the approval of Cade (Administrative Council for Economic Defense).

Petrobras is divesting assets to focus on oil and gas exploration. According to the state-owned company, the operation “is aligned with the portfolio optimization strategy and the improvement of the company’s capital allocation,” it reported in a statement.

About Mangue Seco 1, 3 and Mangue Seco 4 Wind Farms of Petrobras Located in the Northeast

The Mangue Seco 1, Mangue Seco 3, and Mangue Seco 4 wind farms are part of a complex of four wind farms (Mangue Seco 1, Mangue Seco 2, Mangue Seco 3, and Mangue Seco 4) located in Guamaré, in the state of Rio Grande do Norte, with a total installed capacity of 104 MW.

Mangue Seco 1 Wind Farm has and operates a wind farm with a capacity of 26 MW, and Mangue Seco 3 and Mangue Seco 4 have and operate two wind farms, with a total capacity of 52 MW, with 26 MW each.