ContourGlobal to acquire assets in Brazil

ContourGlobal has announced that it has signed an agreement to acquire Neoenergia’s interests in a 206 MW portfolio of operating generation assets located in Brazil.

The portfolio consists of seven hydroelectric plants totaling 130 MW in the states of Bahia, Goiás and Rio de Janeiro and four high-efficiency cogeneration facilities totaling 76 MW in Paraná, Rio de Janeiro and São Paulo.

The acquisition is expected to close in the first quarter of 2017 and is subject to various conditions and approvals including by the Administrative Council for Economic Defense (CADE) and the National Electric Energy Agency (ANEEL).

ContourGlobal’s President and Chief Executive Officer, Mr. Joseph Brandt, said:

“We are pleased to expand our business in Brazil where we have operated power generation facilities for over a decade.  The acquisition announced today adds to our existing hydroelectric portfolio and further expands our Solutions business which provides on-site high-efficiency energy to commercial and industrial customers.”

Alessandra Marinheiro, Executive Vice-President of ContourGlobal, highlighted:

“These long-term contracted assets are located in, or adjacent to, Brazilian states in which we have an operating presence and include dollar denominated cogeneration facilities similar to our Solutions plants in Europe and Africa.  Our operating platform enables us to efficiently integrate these new facilities into our Latin American organization.”