CPFL acquires Rosa dos Ventos

Brazilian renewables company CPFL Renováveis concluded the acquisition of independent wind power company Rosa dos Ventos and its two wind farms in northeastern Brazil with a combined capacity of 13.7MW for R$70.3m ($30m), the company said in a statement.

This raises CPFL’s total operating installed capacity by 1% to 1.296GW.

The final agreement also includes assumption by CPFL of R$33.1m of debt, bringing the total value of transaction to R$103.4m.

The acquisition had been agreed in June 2013 for an estimated value of R$99.7m, including R$37.7m in debt.

The final price was decided after analysis of the two wind power assets – the 10.5MW Canoa Quebrada and the 3.2MW Lagoa do Mato, both operational and located in the northeastern state of Ceará. 

The two wind farms were built within Proinfa, the government’s incentivised renewables program of the 1990s.

CPFL Renováveis announced in February 2014 the acquisition of independent renewable company DESA.