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For R$ 34.2 Million, Petrobras Sold Its 51% Stake in the Mangue Seco 2 Wind Farm, Located in the State of Rio Grande do Norte (RN)
Petrobras sold to the Mangue Seco Participações fund, which belongs to the Pirineus Multi-Strategy Investment Fund, a 51% stake in the Mangue Seco 2 Wind Farm for R$ 34.2 million. The complex, located in Guamaré, Rio Grande do Norte, has a total installed capacity of 26 MW and is part of four wind farms located in the region. Now, Mangue Seco Participações owns 100% of the Mangue Seco 2 Wind Farm. Also see: Petrobras Subsidiary, Transpetro, Signed a Contract with Propav for Services. 300 Jobs Will Be Opened During the Works
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The Sale of Petrobras Wind Farm Stake
Petrobras informed that the transaction for the sale of the Mangue Seco 2 Wind Farm was completed for R$ 34.2 million, and adjustments stipulated in the share purchase and sale agreement were paid. This deal aligns with the company’s investment portfolio optimization strategy and improvement of capital allocation, aiming to bring maximum value to shareholders.
During the divestment process, Petrobras is expected to leave Rio Grande do Norte (RN), as in a statement in August 2020, Petrobras announced that besides its logistics and oil structure, it would also give up its onshore exploration areas.
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Chinese giant worth nearly R$ 4 billion that manufactures cables for electric cars, solar energy, and robotics wants to open a factory in SC.
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Many employers do not know, but the law guarantees domestic workers a 25% increase in salary during trips, 50% for overtime, 20% for night shifts, and 17 additional benefits that can lead to labor lawsuits if not paid.
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Gasoline prices soar and the question arises: is ethanol more advantageous? The 70% rule reveals the limit with gasoline.
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The government has made a decision and is starting a test with more ethanol in gasoline, anticipating a mixture of up to 35%, diesel with 25% biodiesel, and a study to assess the impacts on engines.
The Wind Complex in Rio Grande do Norte
The three parks already sold are part of a complex of four projects – Mangue Seco 1, Mangue Seco 2, Mangue Seco 3, and Mangue Seco 4, located in Guamaré, in the state of Rio Grande do Norte. They have a total installed capacity of 104 MW. The Mangue Seco 2 Wind Farm has and operates a wind farm with a capacity of 26 MW.
About the Company That Acquired State-Owned Shares
The Pirineus FIP was established on September 25, 2015, with the aim of investing in companies in the renewable energy sector, including wind complexes, solar photovoltaic systems, and disruptive technology development. The Pirineus FIP proactively operates within its invested companies, effectively influencing their strategic policy and management. With the acquisition of Petrobras’s stake, the fund now holds 100% equity in the Mangue Seco 2 Wind Farm in Rio Grande do Norte (RN).
Also Read: Petrobras May Earn R$ 8 Billion from Sale of Participation in BR Distribuidora This Year
Petrobras plans to sell its entire stake in its former subsidiary BR Distribuidora this year. Should the operation be completed, the state-owned company may earn over R$ 8 billion, three sources familiar with the matter told Reuters. This divestment in BR Distribuidora has the potential to be one of the largest of the year.
At Petrobras, ongoing discussions indicate a favorable position for a full sale of its 37.5% stake in the largest fuel distributor in Brazil, confirming what the company’s new president is coordinating with divestments, according to sources who spoke on condition of anonymity to Reuters.
BR Distribuidora is already aware of Petrobras’s interest in selling its stakes, with contacts between Luna and the distributor’s president, Wilson Ferreira Jr. One of the sources stated that the intention is to complete the sale this year within the necessary procedures.
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