EDP Energias do Brasil, a Brazilian energyfirm 51% controlled by EDP, has signed a sale and purchase agreement with Cachoeira Escura Energética for the sale of 100% of Pantanal Energética.
Under the terms of the agreement the deal has a value of R$390 million (US$121.8 million).
Pantanal holds an installed capacity of 51MW through two mini-hydro plants, UHE Assis Chateubriand (Mimoso) and PCH Paraiso I, with an installed capacity of 29MW and 22MW, respectively, and both located in the state of Mato Grosso do Sul.
The conclusion of the transaction is expected to occur until the end of the first quarter of 2016 and is subject to the customary regulatory approvals.
In May this year EDP Renováveis signed an agreement with EDP Brasil for the acquisition of 45% of EDP Renováveis Brasil. EDP Renováveis Brasil is engaged in the generation, transmission, and sale of electricity from hydraulic or mini-hydraulic, wind, solar, solar thermal, photovoltaic, biomass, and waste resources.