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Copel buys EDP’s wind farms for R$1.8bn

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State-run Copel (Companhia Paranaense de Energia) has acquired the wind farms Aventura and Santa Rosa & Mundo Novo from EDP Renováveis for R$1.8 billion. In all, there are nine wind farms in operation in the municipalities of Touros and São Tomé, in Rio Grande do Norte, totaling 260.4 megawatts of installed capacity.Of the total, the amount of R$965 million is expected to be paid via equity, and the remainder can be paid through funding or with its own money. The project has long-term financing with maturities up to 2043 contracted with Banco do Nordeste (BNB) with rates of IPCA (Brazil’s benchmark inflation index) + 2.19% per year (Aventura) and IPCA + 1.98% per year (Santa Rosa & Mundo Novo).Most of the power generated (76.5%) was sold in auctions in the regulated environment, and 13.7% of the power generated is sold in the free market. There is still 9.8% left for new contracts.With the acquisition, the state-owned company of Paraná has a total generating capacity of 6.7 GW, including hydro, thermal, wind, and solar. The company’s goal is to have a more diversified portfolio, reducing exposure to hydrological risk. The operation will be carried out by Copel GeT, a wholly-owned subsidiary of the company.CEO Daniel Slaviero highlighted the strategic location of the farms and the importance of acquiring an operational asset for the business. According to him, the company consolidates its presence in Rio Grande do Norte and increases its wind generation capacity by 28%, thus reaching 1.2GW of wind...

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