Brazil's CADE okays EDPR's purchase of 41.6-MW wind project

Brazil's Administrative Council for Economic Defense (CADE) approved without restrictions the acquisition by EDP Renovaveis Brasil SA of a 41.58-MW wind project from local firm Monte Verde VI.

The value of the deal was not disclosed in CADE's filling.

Located in Rio Grande do Norte state, the wind asset is not in operation as it does not currently have the necessary permits to enable its construction and there is no estimate for the start of its operations, the antitrust agency said.

Monte Verde VI, a special purpose company, is currently owned by Elawan Energy SL, which is part of Spain's ACEK Group, acting in Brazil in the sectors of wind power generation, steel and auto parts, among others.

In its ruling, CADE stated that the operation raises little concern due to the reduced participation of EDP in the segments of distribution, transmission and commercialisation of energy. Thus, this operation does not have the potential to affect competition in the energy market.

EDP Renovaveis Brasil is the local arm of Portuguese utility Energias de Portugal SA (ELI:EDP).

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