Omega Geracao, a renowned Brazil-based power company, has reportedly announced that it has signed a definitive agreement to procure a 50% stake in French renewables company EDF Renewables’ wind farms located in Bahia, Brazil.

The wind turbines assets of Ventos da Bahia 1 & 2 wind energy farms boast of a capacity of approximately 182.6 megawatts (MW). The proposed deal was valued at more than 661.7 million reais, approximately $ 118 million. Omega would be paying the acquisition amount 55% in cash with the rest of the amount assuming a long-term debt.

Omega added that it was also in talks to procure an additional 265 MW capacity in the wind farms and has a deadline until December of 2020 to make the company an offer. Omega also claimed that its partner organization Omega Desenvolvimento has been engaged in advanced negotiations, which if successful, could lead to wind project installations of more than 200 MW capacity.

The company’s latest deal follows the acquisition of Eletrobras operational wind farms in a deal worth 1.5 billion reais, also including debt, that was announced at July end. The wind power farms located in the Rio Grande do Sul further add a capacity of 582.8 MW. Previously, Omega had finalized and closed a deal to purchase an EDF stake within the Pirapora solar plant.

Currently, Omega holds solar, wind, as well as small hydroelectric power plants with an overall capacity of approximately 1.19 gigawatts (GW). With the takeover of the Eletrobras wind plants, which is scheduled to reach completion by the end of 2020, the company’s capacity would be reaching the 1.7 gigawatts (GW) mark.

Additionally, with the recent acquisition that was announced on Sunday, August 23, 2020, the firm is fast approaching an overall generation capacity of approximately 1.8 gigawatts. Moreover, the company’s portfolio business is expected to eventually push this capacity to more than 2 gigawatts (GW).

Source credit: https://www.evwind.es/2020/08/24/omega-geracao-buys-stake-in-edf-renewables-wind-energy-in-brazil/76725