Spanish energy giant Iberdrola has closed an agreement with Neoenergía to scoop up the remaining 50% of stocks in Forca Eólica do Brasil 1 and 2, in a deal estimated at €98 million euros. The purchase solidifies the company’s presence in Brazil, as well as its commitment to renewable energy sources.
The acquisition makes Iberdrola, which already controlled 50% of the Brazilian companies, the sole proprietor of over 288 MW of windpower generation capacity in the Bahia and Rio Grande do Norte states.
The deal still has to be approved by regulators, such as competition regulator CADE and financial institutions BNDES and Banco do Brasil, who will back the transaction. Iberdrola and Neoenergía will continue to be 50% partners in a further FEB development, which will eventually generate up to 1500 MW of wind power after construction of three parks in Rio Grande do Norte.
Full Content: Interempresas
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Uruguayan Antitrust Scrutiny Puts Major Meatpacking Deal Between Marfrig and Minerva on Hold
May 19, 2024 by
CPI
Alaska Airlines Seeks Dismissal of Consumer Lawsuit Over $1.9 Billion Hawaiian Airlines Buy
May 19, 2024 by
CPI
Idaho Attorney General Orders Split of Kootenai Health and Syringa Hospital
May 19, 2024 by
CPI
Court Rejects T-Mobile’s Appeal Bid in Antitrust Case Over Sprint Merger
May 19, 2024 by
CPI
Google Requests Judge, Not Jury, to Decide on Antitrust Case
May 19, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI