Omega Energia has signed a binding agreement to purchase the rights to the 1GW Assuruá renewable energy scheme in Brazil.
The company has increased its interests in 211.5MW Assuruá 4 and 243.6MW Assuruá 5 to 100%. It also bought all assets and rights related to the wind and solar expansion of the project, which could add 617.6 MW of installed capacity.
Omega Energia will pay US$11.3m in cash for the Assuruá 4 and 5 convertible debentures and then undertake a merger of the firm holding the remaining debentures.
Scheduled to become fully operational in 2023, Assuruá 4 and 5 will contribute approximately US$75m to the firm’s yearly earnings before interest, taxes, depreciation, and amortisation (EBITDA).
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