EDP, a Portuguese company in the electricity sector, has started negotiations for the sale of the Pereira Barreto (252 MW) and Novo Oriente (254,6 MW) solar complexes, both located in São Paulo, according to the newspaper Valor Econômico. The valuation of these projects varies between R$1,6 billion and R$1,8 billion.
In addition, the divestment package includes the Santo Antônio do Jari (392,95 MW) and Cachoeira Caldeirão (219 MW) hydroelectric plants, both in Amapá, with an estimated value of R$3 billion. According to sources consulted by the newspaper, these negotiations are at an advanced stage and may be concluded in the coming weeks.
BTG Pactual and Bradesco BBI are advising on the transaction. However, both EDP and the financial institutions chose not to comment on the matter.
According to the Price, the sale of solar assets may face challenges due to cuts in wind and solar power generation promoted by the National Electric System Operator (ONS), which has increased the perception of risk in the renewable energy sector.
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