Renova sells 605 MW Umburanas wind complex to Engie
Renova Energia S.A. has signed an agreement to sell its rights and obligations related to the 605-MW Umburanas wind farm complex project in Brazil’s Bahia state to Engie Brasil Energia S.A.
The transaction has a total value of BRL15 million (US$4.7 million) subject to adjustments.
Engie will receive the rights related to the 355 MW Umburanas I Project, the 108 MW Umburanas II Project and the Umburanas III Project, which refers to Renova's remaining wind power generation capacity in the Umburanas wind complex.
The sale of the scheme will reduce Renova's capital expenditure (Capex) requirements for the next 18 months. During that period the company intended to invest in the Umburanas II Project, which was scheduled for completion by January 2019.
