Norwegian renewable energy company Statkraft has acquired 663.6MW of wind projects in Brazil from local developer Casa dos Ventos for an undisclosed amount, growing its operational wind power capacity in the country by a factor of five.

According to Brazil’s antitrust court, Cade, Statkraft’s total wind power capacity will increase from 129.7MW to 793.3MW after the purchase.

Cade has already approved the transaction without any restrictions because of its small size compared to Brazil’s overall wind power capacity.

The transaction is the latest in a flurry of M&A in Brazil's renewable energy sector as companies jostle for position before Latin America's largest economy rebounds from a crisis that now is in its fifth year and has depressed power demand.