Engie Brasil to acquire 882-MW wind project in Bahia

Brazil's Copel Cutia Wind Complex in Rio Grande do Norte

May 6 (Renewables Now) - Brazilian energy company Engie Brasil Energia SA (BMVF:EGIE3) said today that its board of directors has approved the acquisition of development rights to the 882-MW Serra do Assurua wind project in Bahia state.

Engie Brasil will buy the assets from local renewable energy company PEC Energia SA for a maximum value of BRL 265 million (USD 53.6m/EUR 50.7m). The deal includes 24 wind project development grants, a leasing contract, wind measurement tower data and other assets.

Serra do Assurua will be located in the municipality of Gentio do Ouro, the same region in which the Engie has its Campo Largo and Umburanas wind power complexes.

With this new acquisition, the local energy unit of France’s Engie SA (EPA:ENGI) has over 3 GW of projects in an advanced stage of development.

“We continue alert to the opportunities of acquisitions for furthering our long-term growth ambitions," commented Eduardo Sattamini, Chief Executive and Investor Relations Officer.

(BRL 1.0 = USD 0.202/EUR 0.192)

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Lucas is based in Brazil. He joined Renewables Now to expand coverage of the Ibero-American market, a highly attractive destination for green energy investment.

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