Actis, a private equity firm said its wind energy company, Echoenergia has acquired 100% stake in two operating wind farms.
The company disclosed that the two wind farms were located in the North East of Brazil.
The wind farms were acquired from Brazilian premier wind developer Casa dos Ventos.The two wind farms, with contracted 20-year PPAs, total 346MW. Tiangua, located in Ceara state, has an installed capacity of 130MW and Sao Clemente, located in Pernambuco state, has 216MW.
The acquisitions are seed assets for Echoenergia, the fifth such energy platform that Actis has built in Latin America.
Commenting on the transactions, Michael Till, co-head of Actis Energy, commented: “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.”
Actis said it aims to use the Echoenergia acquisitions to expand its footprint in the Brazilian renewable energy sector, replicating the success of Atlantic Energias Renovaveis, a renewable energy platform with 652MW of fully contracted assets