Brascan power has completed the acquisition of six hydroelectric power plants in Brazil, with a combined installed capacity of 76MW, from Companhia de Forca e Luz Cataguazes Leopoldina (CFLCL).
The sale is worth US$103.2M, which includes US$6.2M in working capital, cash consideration of US$68M and assumed debt of US$35.3M.
Brascan Power’s Brazilian affiliate, Brascan Energetica, will operate the six facilities. All the power generated is under long-term contract to CFLCL with an average term exceeding 20 years.