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    Patria picks off ContourGlobal assets

    January 27, 2022 - Valor Economico (SABI English Language Abstracts)


      Patria Investimentos has sealed a deal to buy the UK group ContourGlobal's hydroelectric power-plants in Brazil for enterprise value of R$1.73bil (and equity value of R$898mil). The assets changing hands amount to 168 MW in generating capacity. The deal should be completed next quarter with ContourGlobal also intending to sell off its wind-farms in Brazil this semester: said assets amount to 598 MW and feature Asa Branca (160 MW) in Rio Grande do Norte and Chapada (438 MW) in Piaui. The deal does not include the UK group's co-generation thermo-electric portfolio in Brazil (76.1 MW). Patria is an investment-partner at Essentia, a player in both the wind- and solar-power segments in Brazil. It also boasts a stake in Arke, the joint venture featuring Shell and Mitsubishi Power that is responsible for the construction of the gas-fuelled thermal plant Marlim Azul (565 MW) in Macae (RJ). Patria will take Goiandira (27.7 MW), Nova Aurora (21.6 MW), São Domingos (25 MW) and Galheiros (12 MW) in Goias, Presidente Goulart and Alto Femeas (18.7 MW) and Sitio Grande (23 MW) in Bahia and Pirapetinga (19.8 MW) and Pedra do Garrafao (20.3 MW) in Rio de Janeiro off ContourGlobal (they were bought from Neoenergia in 2016).


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