Brazil’s Servtec, Darby acquire 64 MW of renewables – report

August 7 (Renewables Now) – Brazilian energy company Servtec in a partnership with private equity fund Darby has acquired 64 MW of renewable energy assets in Brazil, the former’s CEO Pedro Fiuza told Reuters on Thursday.

Darby, part of US-based Franklin Templeton Investments, and Servtec have purchase the 42-MW Dunas do Paracuru wind farm and the 22-MW Inxu small hydropower plant (PCH) from Spanish group Inveravante for an undisclosed amount.

 Wind turbines in Brazil. Author: josep. License: Creative Commons, Attribution-ShareAlike 2.0 Generic.

The transaction includes the assumption of debt with both the Brazilian Development Bank (BNDES) and the Brazilian Northeast Bank (BNB). Servtec will at first focus on improving the assets’ performance, but at a later stage will consider refinancing the plants in order to cut costs, according to the report.

With this transaction, Servtec’s portfolio of operational wind and PCH facilities in Brazil grows to 173 MW. The company also has thermal power plants and solar distributed generation (DG).

Together, Servtec and Darby are looking to increase their solar DG portfolio to 250 MW by end-2021.

Source: Renewablesnow
https://www.renewablesnow.com/news/brazils-servtec-darby-acquire-64-mw-of-renewables-report-709143/

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