AES Tietê Energia has acquired the 386-MW Alto Sertão II wind portfolio in Brazil for $193m USD, with technical due diligence support from K2 Management and TNEI. The 230-turbine portfolio is spread across 15 sites in the Bahia region of Brazil, and this acquisition represents a positive move in the Brazilian energy market, given the uncertainty surrounding the cancellation of the energy auction late last year.
K2 Management’s specialists delivered technical due diligence advice across the entire portfolio, including a review of the turbine and balance-of-plant technology and performance, an energy yield assessment report review, civil, grid, and electrical design review and a technical review of the O&M contracts.
The team also provided an independent energy yield assessment based on production data for the portfolio.
“Our technical and commercial expertise was fully utilized in this extensive project, adding value to AES Tietê Energia’s acquisition,” said K2 Management’s Latin America Managing Director, Hebert A. M. Nascimento. “Our reporting and advice was underpinned by a sound understanding of the region, its wind resource and the portfolio’s potential and we’re pleased that the client’s goal of a successful transaction was achieved.”
TNEI, a specialist energy consultant, supported K2 Management on this project, with the delivery of a technical due diligence review focused on grid connection arrangement, electrical design and installation, local transmission infrastructure, and generation restrictions.
“This project marks an important acquisition in the company’s drive toward diversifying our energy portfolio and achieving our growth goals by 2020,” said Ítalo Freitas, President of AES Tietê Energia. “K2 Management’s technical advice was important in identifying commercial opportunities and risks throughout the process.”
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