BNDES approves Omega's purchase of 583MW Brazilian wind cluster

In:

Renewable energy

Region:

Americas

Brazilian development bank BNDES has agreed to the transfer of control over the 582.8MW Chui wind power cluster to renewable energy company Omega Geracao.

Omega Geracao is buying the wind asset, in Rio Grande do Norte, from domestic power distributor Eletrobras for about BRL1.5 billion ($281.7 million) including debt assumption.

More specifically, Eletrobras has sold a 78% stake in the Eolica Santa Vitoria do Palmar and a 99.99% interest in the Hermenegildo I, II, III and Chui IX special purpose companies. In September, Omega received approval from the Brazilian competition regulator CADE without any restrictions for this transaction.

Closing is still subject to the green light from Brazil's Far South Regional Development Bank, which is expected to happen before the end of the year, Omega said.

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