Esporte AES Brasil to acquire 158.5 MW of wind capacity from Cubico

Esporte AES Brasil to acquire 158.5 MW of wind capacity from Cubico

Esporte

December 28 (Renewables Now) – AES Brasil (B3:TIET11), formerly AES Tiete Energia SA, has signed an agreement to buy all of the capital stock in a 158.5-MW wind power portfolio from Cubico Brasil SA.

The deal is valued at up to BRL 806 million (USD 155.2m/EUR 127m), including BRL 277 million of net debt, AES Brasil said on Sunday night.

The Brazilian energy company is buying the special purpose companies (SPEs) that hold the 94.5-MW MS Wind Complex and the 64-MW Santos Wind Complex. These plants, operational since 2013, are located in the states of Rio Grande do Norte and Ceara, respectively. Both wind parks have 20-year power purchase agreements (PPAs) awarded in auctions held in 2009 and 2011.

Once the transaction is concluded, AES Brasil will have an installed renewables capacity of 4 GW.

(BRL 1.0 = USD 0.193/EUR 0.157)

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