Copel buys Galvao wind assets

Brazilian state-owned group Copel has spent R$160m ($68m) to buy the wind portfolio of its compatriot and partner Galvão Energia.

The deal accounts for 553MW of projects at various development stages.

Following the acquisition, Copel Renováveis – the company's renewables investment-arm – will own 100% of the 94MW São Bento Energia complex in Rio Grande do Norte, in which it formerly had a minority 49.9% stake, with Galvão the controller.

The wind farm is ready to spin. However, its link to the grid has not yet been sorted out.

Along with São Bento came the acquisition of the outstanding shares in the 129MW Cutia wind development, which is qualified to take part in tomorrow’s A-5 national power tender, adding the 65MW it did not already own to Copel’s portfolio.

A further total of 441MW of wind projects in various stages of development will be transferred to Copel's offices in Curitiba, Paraná.

Copel entered the wind business in 1999, when it inaugurated a 2.5MW wind farm.

In June it bought 183.6MW of wind assets from the developer Casa dos Ventos Energias Renováveis.

In October this year Copel decided to create its own renewables division to look after the company's strategy in the wind sector.