Casa dos Ventos buys seven Voltalia project companies

Less than a month after obtaining Cade approval to buy 12 SPVs from Vestas in the Três Divisas project, Casa dos Ventos has submitted a new acquisition to the authority: seven SPVs from Voltalia, with more than 300 MW under development in Tocantins and Rio Grande do Norte, via Salus FIP. They are the Gurupi 1 to 5 solar plants and the Tourinhos C11 and C12 wind plants.

Under Article 88 of Law 12,529/2011, merger control is prior and must take place within 240 days of filing, and the transaction cannot be completed before review, on pain of nullity and a fine of BRL 60,000 to BRL 60 million. After Cade, according to the publication, transfer of the grants depends on ANEEL.

The regulatory calendar defines when the projects start to count in the portfolio. Assets under development generate no revenue while awaiting the two approvals, but do not yet require construction capital. The transaction buys a position in projects already started by another developer.

What is under the buyer's control is the preparation of the filings. What depends on third parties is the timing of two regulators. Approval defines when the portfolio grows.