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AES : Brazil`s AES Tiet acquires 91MW Boa Hora solar project

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08/03/2017 | 04:29 pm

Brazil`s AES Tiet, a unit of AES Corp, has agreed to pay 75mn reais (US$23mn) to acquire a 91MW PV solar power project in Pernambuco state, the company said in a securities filing.

The sale is being made by a consortium, comprising European Energy; Elica Tecnologia; and Solar Tecnologia. The group had secured the 20-year supply contracts from the Boa Hora complex, at 292 reais/MWh, in an auction for reserve energy in 2015.

The facility is due online in November 2018 following planned investment of 300mn reais.

AES Tiet said it would seek permission from power regulator Aneel to relocate the complex to Ouroeste in Sao Paulo state, near the company`s gua Vermelha hydroelectric plant.

"In the event that the request is not accepted [we] will proceed with the construction of the complex in the municipality of Tacaimb in Pernambuco state," the company said.

It added that the transaction remained subject to conditions and regulatory approval.

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