British private equity firm Actis has purchased 346 megawatts of onshore wind capacity in Brazil, through the acquisition for an undisclosed price two wind farms in the country’s northeast region from local company Casa dos Ventos.
The deal includes the 216 MW Ventos de São Clemente wind farm in Pernambuco state, and the 130 MW Ventos de Tianguá farm in Ceará state. The assets are contracted with 20-year power purchase agreements, Kallanish Energy notes.
“This is an important building block that underpins Actis’ focused strategy of creating scalable energy businesses in key growth markets. Brazil is Latin America´s largest economy and its wind resources are among the best in the world,” said Michael Till, co-head of Actis Energy.
The acquisition was made through Actis’s newly created unit Echoenergia, which CEO Edgard Corrochano said will have 1,200-1,500 MW in operation in three to five years.The executive was previously in charge of wind turbine manufacturer Gamesa in Brazil.
Actis’s energy director in Brazil, Sérgio Brandão, said the capacity goal will be achieved via mergers and acquisitions or new energy auctions.
“If we have an auction at the end of this year or the beginning of the next, we can participate. The fact that we have a large amount of operational assets helps us a lot," Brandão said.
Seller Casa dos Ventos said the deal was an opportunity to “recycle capital” for new future investments.