Chinese energy company buys from Enel to enter Brazil


Chinese energy company buys from Enel to enter Brazil


Fredrik Karlsson

 06 June 2019

Eversheds Sutherland in London and Beijing and Azevedo Sette Advogados in Rio de Janeiro and Belo Horizonte have helped China’s CGN Energy enter Latin America by purchasing two solar plants and a wind farm from Enel Green Power in Brazil for 2.9 billion reais (US$727 million).

The Brazilian subsidiary of Italian energy company Enel hired Pinheiro Guimarães in São Paulo for the deal. The transaction closed on 31 May.

The acquisition hands CGN a solar plant and a wind farm in the north-eastern state of Bahia and a solar plant in the adjacent state of Piaui. The plants have a combined installed capacity of 540 megawatts.

The two solar complexes have a 20-year supply contract with Brazil’s electricity market operator – the Chamber of Commercialisation of Electric Energy. The wind farm holds a 20-year power purchase agreement with a group of local electricity distributors.

Enel has divested to free up resources to invest in new projects.   

Counsel to CGN Energy

Eversheds Sutherland

Partner Stephen Hill and associates Charlie Wright and Karim El-Borhami in London, and partner Jay Ze and associate Xinyang Li in Beijing

Azevedo Sette Advogados

Partner Luiz Sette, Ana Paula Terra and associate Luisa Margotti in Belo Horizonte

Counsel to Enel Green Power Brasil

Pinheiro Guimarães

Partners Bruno Lardosa and René Mostardeiro Brunet, and associates Gabriel Banwell Ayres and Leandro Bittencourt in São Paulo

Practice area : 

Corporate and M&A, Energy

Country : 

Brazil, International

Industry : 

Renewable energy

https://latinlawyer.com/article/1193743/chinese-energy-company-buys-from-enel-to-enter-brazil?utm_source=06%2f06%2f19-11%3a18%3a04-350+-+Aguilar+Castillo+hires+regional+anti-corruption+head&utm_medium=email&utm_campaign=06%2f06%2f19-11%3a18%3a04-350+-+Aguilar+Castillo+hires+regional+anti-corruption+head&utm_term=Aguilar+Castillo+hires+regional+anti-corruption+head&utm_content=8265&gator_td=jkLuWTCAOGH3ZvQR%2f4rnFskbw95KHa%2bhmzucnHtdXL%2f6s3fDJKD5pxUhnJp%2bDG0NPj6MhVhJWJco27loiHyTAX2NCKJedPzSiIKAP2OsHfYK4h5pKK2yv35ry0dUh3HNkZifdXVVNlyIobDijGBtYZ1adGtEGTkjimnHvJT0DzDNpUZIPmDVMTeK4yybm8ni6yaFHWrKeLfwLUG4RsVLNzZpLJTvVwu9eW9mgZXQsEwdDKaPOvsyGGOzKVNp4ydVvo9KPPqWVkyIu2cYEmW0sw%3d%3d