Brazilian investment manager Patria Investimentos has recently reached an agreement to acquire approximately 600 MW of wind power assets from London-based power producer ContourGlobal. The deal, still pending certain approvals, encompasses the Asa Branca, Chapada I, Chapada II, and Chapada III wind farms.
On Tuesday, Brazilian utility Eletrobras, holding a 49% stake in Chapada do Piaui I and Chapada do Piaui II, disclosed its decision to divest its interest in these plants. The sale is set to proceed to a company controlled by funds managed by Patria. These specific service vehicles collectively hold 377.5 MW between the two wind farms controlled by ContourGlobal.
Eletrobras, in its official filing, stated that the interests being divested were valued at BRL 222 million (USD 44.7 million / EUR 41.4 million) in the most recent quarter. In 2022, these assets reported an equity income loss of BRL 9.8 million.
The completion of the transaction is contingent upon regulatory approvals, marking a significant move in the renewable energy sector within the Brazilian market.
