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AES Brasil completes wind acquisition from Cubico

Wind turbines farm at sunset, high voltage, the future of renewable energy, Rio Grande Do Sul, Brazil

AES Brasil, and its subsidiary AES Operações, have completed the acquisition of a trio of wind farms totaling 460MW.

The energy company added the Ventos do Araripe, Caetés and Cassino complexes to its wind portfolio after entering an agreement to buy the assets with Cubico Sustainable Investments for R$960 million ($185 million) earlier this year (PFR, 8/9). AES Brasil will also assume the projects' debt of R$895 million ($173 million).

Located in the state of Piauí, Ventos de Araripe has an installed capacity of 210MW. The complex came online in 2015 and contracted a power purchase agreement in an energy auction for 108.3MW of output until 2035.

Caetés is a 181.9MW wind complex located in the state of Pernambuco. The complex contracted PPAs in the regulated market for 94.7MW of energy output until 2035. The Cassino complex has an installed capacity of 64MW and is located in the Rio Grande do Sul state. The project secured PPAs for 26.4MW of output through 2034.

AES has more than 5GW of installed renewable capacity in Brazil, 57% of which is from wind energy. Earlier this year, the company teamed up with Unipar to develop a wind project in the state of Rio Grande do Norte (PFR, 8/23) and won a 305 MW wind portfolio in Rio Grande do Norte (PFR, 3/17).