Brazil-based CPFL Renováveis has completed the acquisition of four wind farms with a total installed capacity of 120 MW from Spain's Cobra Instalaciones y Servicios in Brazil. Terms of the deal were not disclosed.
According to Business News Americas, The deal came after CPFL Renováveis' parent company CPFL Energia (NYSE: CPL) bought shares in concessionaires Atlantic I, II, IV and V which are responsible for operating the wind farms.
Under the agreement, CPFL has the right to independently produce the wind power for 35 years.
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