Omega Geração buys stake in EDF Renewables wind energy in Brazil

Omega Geracao announced on Sunday a binding agreement to acquire a 50 percent stake in wind farms owned by France’s EDF Renewables in the Brazilian state of Bahia.

The assets in the wind turbines of the Ventos da Bahia 1 and 2 wind complexes have a capacity of 182.6 megawatts and the deal was valued at 661.7 million reais ($ 118 million), with Omega paying 55 percent in cash and the rest assuming long-term debt.

It added that it was in talks to buy additional wind farms with 265 MW of capacity and has until December to make an offer.

The company also said that its partner Omega Desenvolvimento is “in advanced negotiations that could lead to the implementation of wind projects of approximately 200 MW of capacity.”

Omega’s latest move follows the purchase of operational wind farms from Eletrobras for 1.5 billion reais, including debt, announced at the end of July. The wind power plants in Rio Grande do Sul add 582.8 MW of capacity.

Omega had previously closed a deal for an EDF stake in the Pirapora solar complex. EDF Renewables is a wholly owned subsidiary of the French electricity company EDF Group

Omega currently has wind, solar and small hydroelectric plants with a capacity of around 1.19 gigawatts. With the purchase of the Eletrobras plants, which should be completed by the end of the year, it will reach 1.7 gigawatts.

With the purchase announced on Sunday, the company is approaching a generation capacity of 1.8 gigawatts, while the portfolio business could eventually push it to exceed 2 gigawatts.