EDF sells 50% stake in Brazil wind farms to Omega Geração

Omega Geração, a São Paulo-based renewable energy company that invests exclusively in the wind, hydro and solar sectors, announced on Sunday 23 August that it had entered into an agreement with the EDF Renewables. The deal relates to the French company’s assets in the Ventos da Bahia 1 and 2 complexes, which have a capacity of 182.6 megawatts. 

Omega Geração announced in a statement that the purchase was worth $118mn, of which 55% ($65mn) would be paid in cash. The remaining $53mn would be paid through the transfer of long-term debt.

As part of the deal, Omega Geração has the option to buy additional wind farms from EDF with a further 265MW of capacity. It has until December to make an offer. In this regard, the company commented through its partner Omega Desenvolvimento that it is “in advanced negotiations that could lead to the implementation of wind projects of approximately 200MW of capacity.”

Omega is actively building its portfolio of wind projects in Brazil. In July the company announced that it had acquired plants in the state of Rio Grande do Sul with 582.2MW of capacity from Electrobras. That deal was worth $267mn.

The Omega Geração wind, hydroelectric and solar portfolio currently stands at 1.19 gigawatts. When the share of the new EDF Renewables wind farms are added, the company’s generation capacity will be almost 1.8 gigawatts.