Brazilian energy company Omega Geracao SA has agreed to purchase the Assurua wind power complex in Bahia, Brazil.
Omega will acquire the wind plant from Fundo de Investimentos em Participacoes (FIP IEER), the investment fund of Brazilian renewable power generation holding company Companhia de Energias Renovaveis.
Under the deal, Omega intends to pay 1.9 billion Brazilian real ($501.3 million), which also consists of over $263.8 million in assumed net debt. The move provides Omega with the right to make the first offer for some wind and solar projects in Bahia.
The transaction is subjected to customary closing conditions, including creditor’s consent and approval by Brazil's Administrative Council for Economic Defense.