ContourGlobal in 206MW Brazil power acquisition

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Monday, November 28, 2016

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ContourGlobal has agreed a US$210mn deal to acquire 206MW of power generation assets from Brazilian firm Neoenergia, the New York-based group said on Monday.

The portfolio comprises seven hydroelectric plants totaling 130MW and four cogeneration facilities with combined capacity of 76MW, according to a ContourGlobal statement.

"These long-term contracted assets are located in, or adjacent to, Brazilian states in which we have an operating presence and include dollar denominated cogeneration facilities similar to our Solutions plants in Europe and Africa," ContourGlobal executive vice president Alessandra Marinheiro said.

The transaction is expected to be finalized in the first quarter next year, pending regulatory approval.