Enel Green Power Brasil (EGP Brazil) has signed agreements with Chinese company CGN Energy International Holdings (CGNEI) for the sale of 100% of three fully operational renewable plants totalling 540MW.
The overall consideration of the transaction, to be paid at closing, is equal to the assets’ enterprise value and amounts to approximately 2.9 billion Brazilian reais, equivalent to around € 700 million. The three renewable assets being sold are the solar plants Nova Olinda (292MW), located in the northeastern Brazilian state of Piauí and Lapa (158MW), situated in the north-eastern Brazilian state of Bahia, as well as the 90MW Cristalândia wind farm, also in Bahia. All three plants have long-term power purchase agreements (PPAs) in place.