Brazilian renewable energy company CPFL Renováveis has entered into BRL99.7m ($46m) agreement with Portuguese developer Martifer Renováveis to acquire two operational wind projects.
As per the terms of the agreement, CPFL will purchase 100% stake in Martifer’s subsidiary Rosa dos Ventos Geração e Comercialização de Energia that operates the two wind farms totaling power capacity of 13.7MW.
The projects include 10.5MW Canoa Quebrada wind farm and 3.2MW Lagoa do Mato project, both located on the coast of the State of Ceará. The electricity output from the facilities is procured by country’s state-owned utility Eletrobras through PROFINA scheme, program of incentive to alternative sources of electric energy.
Meanwhile, the acquisition sum comprises BRL62m ($28.3m) to be paid to Martifer and debt assumption of BRL37.7m ($17.2m).
The acquisition is expected to increase CPFL’s operational power portfolio to 1,166.9MW.