[2019-01-17] China’s General Nuclear Power Corporation buys solar and wind power assets in Brazil

Source: Macauhub

The China General Nuclear Power Corporation (CGN) group has bought all the existing solar and wind power assets of Italy’s Enel group in Brazil, the group said in a statement released on Wednesday in Rome.

The deal, carried out through subsidiaries CGN Energy International and Enel Green Power, involves a production capacity of 540 megawatts of electricity and provided the Italian group with a 2.9 billion reais or 700 million euros.

The assets negotiated with the Chinese company are the solar power plants of Nova Olinda, with 292 megawatts in the state of Piauí, and Lapa, with 158 megawatts in the state of Bahia, as well as the 90-megawatt Cristalândia wind farm, also in Bahia.

Antonio Cammisecra, director of Enel Green Power, said in the statement that the deal aims to maximise and accelerate the creation of value through the rotation of assets to release resources that can be invested in new projects.

Cammisecra also said that the group intends to continue to grow in Brazil, “namely through financing new investments through the build, sell and operate model.”

CGN Energy International Holdings Co., Limited is the arm for non-core asset investments abroad of the China General Nuclear Power Corporation, founded in 1994, which is the largest operator of nuclear power stations in China.