Voltalia has agreed to sell a minority stake in two wind assets in Brazil to French infrastructure investment fund STOA.

The fund will take 35% stakes in the 163 MW Ventos da Serra do Mel 1 (VSM 1) and 128 MW Ventos da Serra do Mel 2 (VSM 2) projects. Both assets are currently under construction and form an integral part of Voltalia’s Serra Branca cluster in the Brazilian state of Rio Grande do Norte. The value of the acquisition was not disclosed.

The whole cluster has the potential to generate more than 2.4 GW, of which 873 MW is already in operation or under construction. Voltalia owns 600 MW of the total capacity, having sold the remaining 273 MW to Echoenergia, a portfolio company of Actis (PFR, 9/13/18).

In addition to the Serra Branca cluster, Voltalia has 3.3 GW of wind and solar projects under development, mainly located in the states of Rio Grande do Norte and Bahia.  

STOA was established by the French state-owned Caisse des Dépôts et Consignations (83.3%) and Agence Francaise de Developpement (16.7%) as a €600 million joint investment vehicle targeting infrastructure and power in developing and emerging markets in 2017.

(A version of this article first appeared in IJGlobal).

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