Tractebel buys 600MW project rights

Tractebel, the Brazilian unit of France's GDF Suez, has agreed to buy the rights to develop wind projects totaling 600MW generation capacity in Rio Grande do Norte State for up to R$54m ($24m).

The company said in a statement that it bought 100% control of the 24 special purpose companies that make up the Santo Agostinho wind power complex located in the cities of Lajes and Pedro Avelino.

Tractebel says it agreed to advance an initial R$39m and will pay the balance if the projects meet certain performance milestones.

The company controls six operating wind power plants with 159MW generating capacity and is building another four with 97.2MW capacity.