For R$ 1.7 Billion, Pátria Investimentos Acquires Hydroelectric Plants from British ContourGlobal and May Also Acquire Wind Farms

Written by Roberta Souza

Published on 21/01/2022 at 19:18

Updated on 21/01/2022 at 19:31

Foto: Reprodução Google Imagens

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In Addition to Hydroelectric Plants, Pátria Investimentos Can Also Purchase the Wind Energy Assets of ContourGlobal, Which Owns the Asa Branca Complex Located in Rio Grande do Norte

The manager Pátria Investimentos has closed the acquisition of nine hydroelectric plants from the British company ContourGlobal in Brazil, in a deal totaling R$ 1.73 billion. These plants that the fund will operate have long-term contracts, with a capacity of 168 MW. The deal accumulated R$ 178 million in Ebitda (earnings before interest, taxes, depreciation, and amortization) in the last year, ending in September, according to ContourGlobal.

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From the total value of the deal for the hydroelectric plants, Pátria will pay R$ 898 million for the assets and will commit the remaining value to debts. The conclusion of the negotiation is expected to occur in the second quarter of 2022 and depends on the approval of regulators, including Cade and Aneel.

The British company ContourGlobal stated that it has granted exclusivity to the fund for a potential operation if, in addition to the hydroelectric plants, Pátria wishes to also purchase the company’s wind energy assets. ContourGlobal owns the Asa Branca complex in Rio Grande do Norte, with a generation capacity of 160 MW.

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Pátria Investimentos Makes Progress in Infrastructure

Pátria Investments is among the leaders in alternative asset management in Latin America and has over 30 years of experience in acquiring stakes in companies (private equity) and in the infrastructure, real estate, and credit sectors. Among these areas, Pátria is gaining prominence for participating in the government’s infrastructure concession auctions.

“Through our investments, we seek to transform industries and solve structural bottlenecks, generating attractive returns for our investors while creating sustainable value for our society,” declares the manager.

Voith Hydro Will Modernize and Extend the Lifespan of the Turbines at the Paulo Afonso Hydroelectric Plant

The Paulo Afonso II Hydroelectric Plant is located in the Paulo Afonso Hydroelectric Complex, in Bahia, under the concession of the Companhia Hidrelétrica do São Francisco (Chesf) and has been operating since 1961. The plant will undergo its first modernization of two of the six turbines. The machines 8 and 9, of the Francis type, will be refurbished, and in addition, all six gates and their hydromechanical drive systems will be inspected. The other turbines will receive new filters and mechanical auxiliaries.

Andreas Wellmann, the President and CEO of Voith Hydro Latin America, stated that a modernization procedure like this is extremely important for prolonging the lifespan of the machines to avoid failures in the integrated system. “It is worth noting that hydropower plants, in addition to ensuring the production of clean and renewable energy for the System, can support other clean sources, such as wind and solar,” he stated.

Chesf began constructing the Paulo Afonso II hydropower plant in 1961 and completed the work six years later, in 1967. The plant has six generating units, with two units having a unit capacity of 70MW, one unit with a unit capacity of 75MW, and three units with a unit capacity of 76MW, totaling 443MW of installed capacity. In June 2021, Voith Hydro also signed a contract with the Companhia Hidrelétrica do São Francisco (Chesf) to modernize the Paulo Afonso IV Hydroelectric Plant, in the same Hydroelectric Complex. Check Out This Article in Full by Clicking Here.

For R$ 1.7 Billion, Pátria Investimentos Acquires Hydroelectric Plants from British ContourGlobal and May Also Acquire Wind Farms

In Addition to Hydroelectric Plants, Pátria Investimentos Can Also Purchase the Wind Energy Assets of ContourGlobal, Which Owns the Asa Branca Complex Located in Rio Grande do Norte

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Pátria Investimentos Makes Progress in Infrastructure

Voith Hydro Will Modernize and Extend the Lifespan of the Turbines at the Paulo Afonso Hydroelectric Plant

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For R$ 1.7 Billion, Pátria Investimentos Acquires Hydroelectric Plants from British ContourGlobal and May Also Acquire Wind Farms

In Addition to Hydroelectric Plants, Pátria Investimentos Can Also Purchase the Wind Energy Assets of ContourGlobal, Which Owns the Asa Branca Complex Located in Rio Grande do Norte

Also Check Out Other News:

Pátria Investimentos Makes Progress in Infrastructure

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Family without running water in the interior of Ceará takes out a loan to drill an artesian well and discovers possible oil, but cannot use it, cannot sell it, and is left with a debt of R$ 15,000.

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