Regulatory approval for wind transaction in Brazil

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Regulatory approval for wind transaction in Brazil

Brazil's Administrative Council for Economic Defense (CADE) has given regulatory approval for the transfer of Salus Fundo de Investimento em Participacoes' (FIP) shares in ten wind farms to Furnas Centrais Eletricas.

The wind projects, which are part of the Itaguacu Wind Complex, are not yet operational. The wind portfolio is owned by Furnas Centrais Eletricas with a 49 percent stake in each project, with FIP Salus also having 49% and Casa dos Ventos Energias Renovaveis with the remaing 2%.

The deal will allow now Furnas to have control over 98 percent of the shares.

Furnas Centrais Elétricas is a Brazilian federal energy firm engaged in the generation, transmission and trading of electric power. The company is responsible for supplying energy to an area accounting for 63% of Brazilian homes and 81% of domestic GDP.

Furnas runs a range of enterprises which generate 10% of Brazil's electricity. These enterprises include 16 hydroelectric power stations, 2 thermal power stations, approximately 23,000 km of transmission lines and 62 substations. 40% of all of the energy consumed in Brazil passes through the Eletrobras Furnas System.

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