Brazilian cogen acquisition

Majority ownership of Codora Energia, which owns a 48 MW bagasse-fuelled cogeneration plant in the state of Goiás in Brazil, has been acquired by Albioma.

Finalising the acquisition of a 65% equity interest, renewable energy producer Albioma will co-own the CHP plant with 35% stakeholders The Jalles Machado group, the world's second-largest organic sugar producer.

Codora Energia benefits from a long-term power purchase agreement secured until 2026 covering the export of 87 GWh/year at an inflation-indexed price of BRL 205/MWh ($0.584/MWh).

Furthermore, in anticipation of the commissioning of a new 20 MW turbine in 2017, Codora Energia has secured a long-term contract for the sale of 54 GWh per year for a 20-year period starting in 2020 at the historically-high inflation-indexed price of BRL278/MWh ($0.735/MWh).

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