CPFL Renovaveis completes acquisition of wind power developer

Brazil’s CPFL Renovaveis announces it has completed the $44.6m acquisition of wind power developer Rosa dos Ventos Geracao e Comercializacao de Energia.

In a press release from CPFL Renovaveis, two-thirds of the payment was made to Martifer Renovaveis, Rosa dos Ventos’ former owner, with the remaining third assigned to cover the acquired company's net debt.

Rosa dos Ventos operates the 10.5 MW Canoa Quebrada and the 3.2 MW Lagoa do Mato wind farms, which supply their output to Eletrobras under the government's Proinfa programme designed to stimulate investment in alternative energy sources.

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