Renewables developer AES Brasil has agreed to buy three operational wind farms with 456MW of installed capacity from Cubico Sustainable Investments in a deal worth BRL 2 billion ($388 million).
The three wind farms are the 210MW Ventos do Araripe project in Piauí, 182MW Caetés project in Pernambuco and 64MW Cassino project in Rio Grande do Sul.
AES claimed that the deal would increase the size of its renewable portfolio in Brazil to 5.2GW – including the under-construction Tucano and Cajuina complexes – making it the third largest renewable player in the country.
“Our strategic position stands out from other generators as it constitutes a vehicle for growth in 100% renewable energy, with continuous investment in the expansion of our generator park and in the development of new technologies and innovative products,” said AES Brasil CEO Clarissa Sadock.
AES will pay for the projects with BRL 1.1 billion in equity and by assuming BRL 900 million in net debt.
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