Patria, Invenergy Acquire Nearly 600 MW of Wind Power in Brazil

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Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Patria Investments (NASDAQ:PAX) (Cayman Islands) and Invenergy LLC (Chicago, Illinois) have acquired a wind-energy portfolio of nearly 600 megawatts (MW) in Brazil from CountourGlobal (London, England) and Electrobras (NYSE:EBR) (Rio de Janeiro, Brazil). Patria and Invenergy picked up four windfarms in Piaui and Rio Grande do Norte; Patria will hold 90% of the shares, and Invenergy will hold 10%. The latter will operate and maintain the wind turbines.

The portfolio includes the Asa Branca, Chapada I, Chapada II and Chapada III windfarms in the states of Piaui and Rio Grande do Norte. Their output is sold to distribution companies through long-term contracts awarded through organized renewable energy actions, according to Invenergy's statement.

With this acquisition, Invernergy now has more than 1 gigawatt (GW) of managed wind assets in Brazil. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Plant Database can read detailed profiles of the Asa Branca and Chapada windfarms.

"The vast majority of Brazil's installed wind capacity is situated in the northeast, and through this strategic partnership, Invenergy now has a large-scale presence in that part of the country," said Rodolpho Scheeffer, the senior manager for Asset Management & Finance at Invenergy. "This transaction represents Invenergy's commitment to the Brazilian market, and we look forward to seeing our increased workforce apply our unmatched expertise to this portfolio of projects in northeast Brazil and beyond."

Brazil has a total installed capacity of 205 GW, of which wind accounts for 31.1 GW, or 15.23%. According to the National Agency for Electricity (ANEEL), another 3.8 GW of wind energy is under construction across 89 projects in Brazil. Another 498 projects that would account for 20.4 GW have yet to start construction.

Most of Brazil's wind projects either operational or under construction are in its northeast, in the states of Bahia, Ceara, Rio Grande do Norte, Piaui and Paraiba.

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