Brazilian Buys Argentina Wind Energy

Brazil’s Cemig has acquired a 49% stake in three wind energy projects from Argentina’s Impsa. The deal is valued at $92.6m and was paid for in cash, according to Dealogic, which adds that HSBC advised the acquirer. Cemig says that the entire output of the electricity to be generated by these wind farms will be sold to Eletrobras. The wind farms in the deal are Praia do Morgado, which is planned to start up this month, Praias de Parajuru, to start up in March and Volta do Rio, to commence in May.