December 9 (Renewables Now) - Brazil's competition regulator CADE has given the green light to a deal between pharmaceutical company Eurofarma Laboratorios SA and energy firm Omega Desenvolvimento de Energia 4 SA tied to the 211.5-MW Assurua 4 wind project.
Specifically, Eurofarma will acquire a direct or indirect equity interest equivalent to up to 14% of the share capital of the special purpose entities (SPEs) that own the individual wind farms forming Assurua 4.
The pharma company will also off-take power from the wind farms with supply scheduled to begin in 2024, according to a previous statement.
Located in Bahia state, Assurua 4 is comprised of six wind farms. Most of the assets are still pre-operational and two of them have already produced low volumes of electric power for sale.
Under the terms of the deal, Eurofarma could have part of its energy consumption met by the SPEs in a self-production regime.
The companies noted that they are currently evaluating the option of Eurofarma exercising call options of up to 30% in only three SPEs. If this turns out to be the case, the pharmaceutical firm would receive exactly the same volume of energy as originally planned in the agreement, keeping all other conditions of the deal unchanged.
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