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Brookfield Acquires Solar Energy Complex in Minas Gerais for ~R$3b

6 August 2020

Brookfield Energia Renovável completed a ~R$3b acquisition of solar energy complex in Minas Gerais, totaling 1,200 MW of installed power. Transaction is subject to Brazil’s government approval.

(Global Legal Chronicle) Brookfield Energia Renovável’s acquisition of 1,200 MWp Solar Project in Brazil Pinheiro Guimarães advised Brookfield Energia Renovável on the deal, while Vilas Boas Lopes Frattar Advogados advised Solatio Energy.

Brookfield Energia Renovável completed the acquisition of a solar energy complex with 20 solar parks in their final stage of development, totaling 1,200 MWp of installed power. This is the largest ongoing solar energy project in the Americas and is located in the State of Minas Gerais, Brazil.

The total estimated investment in the project is BRL 3 billion and, upon completion, the project is expected to generate power generation to approximately 1,2 million of residential units. Closing of the transaction is subject to achievement of certain condition precedent and approval by governmental authorities.

Brookfield Energia Renovável SA is Brookfield’s renewable energy division in Brazil. It started operations in 2001 and is present in 11 states, with a portfolio of more than 60 assets totaling over 1,500MW. The companies controlled by Brookfield Energia Renovável are in charge of the construction, implantation, maintenance and operation of large and small hydroelectric plants. Brookfield Energia Renovável is based in Rio de Janeiro.

Solatio Energy Gestão de Projetos Solares, a Brazilian firm with Spanish ties, has been operating in Brazil since 2009 and is among the largest Brazilian investors in solar energy, having won numerous contracts in the recent years. Solar parks in Solatio’s portfolio include Pirapora, Guaimbê, Paracatu and Francisco Sá. The company is based in Votuporanga, São Paulo.

Pinheiro Guimarães team advising Brookfield Energia Renovável was led by partner Marcelo Lamy Rego (Picture) and partner Bernardo Bulhões, and associate Bernardo Teixeira.

Vilas Boas Lopes Frattari Advogados advised Solatio Energy, as selling shareholder, with a team led by partner Christian S B Lopes and associate Antônia Bethonico Guerra Simoni, in Belo Horizonte, Minas Gerais.