Cubico Sustainable Investments as sold its stakes in two Brazilian wind farms, with a total capacity of 159MW, to AES Tiete Energia.
Cubico has sold a 100% equity stake in each of the MS and Santos wind farms in the states of Rio Grande do Norte and Ceara in north-east Brazil.
The wind farms have been operational for over four years.
This divestment is consistent with Cubico’s strategic plan to create value for its shareholders through “active asset management to deliver the right geographic diversity” in its existing operational portfolio.
Cubico Americas head Ricardo Diaz said: “This transaction reflects the Brazilian market’s attractiveness for many global players.
“Capital rotation is part of our strategy in certain markets to create value once the assets have been optimised.
“We will now continue to look at value accretive opportunities supporting local developers in their clean energy ambitions.”
Cubico Brazil head Francisco Moya added: “Cubico is an active player in the renewable energy sector in Brazil. We are actively seeking new investments in the country with the aim of diversifying our current wind portfolio with solar and transmission assets.”
Cubico was advised by Pinheiro Neto (legal) and AES was advised by Cescon Barrieu (legal).