Companhia Brasileira de Alumínio finalizes acquisition of 49% stake in 171.6-MW wind portfolio
The largest aluminium producer in Brazil, Companhia Brasileira de Alumínio (CBA) has accomplished the acquisition of a 49% stake in a 171.6-MW wind portfolio from VTRM Energia, the collaboration formed by Votorantim Energia and Canada Pension Plan Investment Board (CPPIB).
The $11.40 million deal was executed directly by CBA and indirectly via CBA's subsidiary CBA Itapissuma Ltda that produces aluminium sheets and foils.
On 30th August 2021, CBA stated: “All parties involved entered into the shareholders’ agreements for the targeted wind energy companies holding the capacity.”
“CBA and CBA Itapissuma will exclusively hold 100% of the class B common shares in targets -- Ventos de Santo Anselmo Energias Renovaveis SA and Ventos de Santo Isidoro Energias Renovaveis SA -- which is equivalent to the 49% of their total capital stock”, CBA added.
The capacity focused is part of the Ventos do Piaui I and II wind farm complex. However, starting in 2023, the wind farms’ output will be used to supply power to CBA’s Itapissuma and Aluminio plants.
LME aluminium price closed Tuesday trading up at US$2714/t; SHFE price slipped by US$13/t to US$3278/t
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